As seen by the Google stock discussions, eBay is headed down a seeming irreversible path to zero. Since John Donahoe came on board as CEO, with the apparent blessings of founder Pierre Omidyar, the company's stock has been plummetting faster than the market is dropping.
A catch-22 the stock market is, since eBay is one of the 100 stocks that make up the Nasdaq index. Suffice it to say, as eBay goes, so goes the index. While cheerleaders are busy blaming the economy for eBay's slipping stock price, they fail to notice the correlating relationship of eBay and the Nasdaq index.
In a more direct way of putting it: It is eBays failing policies that are dropping the market rather than the market dropping eBays share price. Simple as that folks!
Amazon, which is also on the Nasdaq 100, reported its best Christmas sales season ever for 2008. We have yet to hear of such news from eBay, and likely will not anyway.
Saturday, December 27, 2008
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