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eBay Must Reverse Some Trends

By Kenn Registe

 About this article:
 eBay is scheduled to host an analyst day on Wednesday, March 11, the first under the new CEO John Donahoe. At a share price of $10, the stock is trading at its lowest levels since 2001. The shares are down about 80% from all-time highs set in late 2004. This compares with a 50% contraction in the S&P 500 over the same time period. Clearly, management has destroyed value. I am not anticipating any game-changers from the analyst day, and I am not coming out with a list of questions for management. However, I do have a few ideas that I will discuss later. But first, here is where eBay stands as a company: The company's core business has lost significant market share to Amazon and niche ecommerce sites, and the share loss is likely to continue for the foreseeable future. Several structural challenges exist that is likely...

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