Institutions continue dumping eBay Shares
Net Institutional Purchases - 1s Qtr 2008 to 2nd Qtr 2008
Net Shares Purchased (Sold) (89,598,700)
% Change in Institutional Shares Held (10.8%)
Net Institutional Purchases - 4th Qtr 2007 to 1st Qtr 2008
Shares
Net Shares Purchased (Sold) (30,998,100)
% Change in Institutional Shares Held (3.5%)
So it appears that institutions have dumped three times as many shares in second quarter 2008 compared to first quarter 2008.
No matter how eBay corporate serves their PR Cool Aid, the bottom line is, the company is suffering from MBAaitis : a clueless bunch of MBAs running the auction site to the ground.
Check out the eBay Stock message board on Yahoo Finance or it’s counterpart eBay Stock Message board on Google : it’s carnage time! eBay has been heavily censoring sellers and customers disclosing their dismay with eBay management on it’s own site, so some sellers moved those discussions to the eBay STOCK forums to let the shareholders know “there is something rotten in the state of eBay”
eBay shares have hit 1 year low and 3 year low this week $22.70
Trade Time: Sep 9 and it appears that recovery is not in sight any time soon.
Update 9/25/2008 If you watch volume on eBay shares, you will not be able to help but notice a pattern of someone dumping unusually high volumes of eBay shares past few days right at the end of trading day.
Past 5 trading days a muti-million share dumps end of each day.