eBay stock has had a runup for the ages in the past month, and one analyst thinks the rise looks unhealthy. Shares of eBay (Nasdaq: EBAY) were down nearly seven percent, closing down 11-1/8 to 155-1/16, on Wednesday after Spencer Clarke LP’s Stewart Kalter gave it a “sell” rating.
On Wall Street, “buy” means “hold”, “hold” means “unload”, and “sell” pretty much means “panic.”
eBay investors should be wary, but also keep in mind that eBay is one of the small minority of Internet retailers that is turning a profit. If you’re worried about eBay, you should be just as concerned with the companies that have yet to make money.