Although details of a government probe into possible illegal transactions of eBay (Nasdaq: EBAY) are still unclear, Wall Street doesn’t seem to be at all concerned.
Shares of the online auction house split 3-for-1 last week and proceeded to climb four trading sessions in a row, punctuated by a breakout day on Friday. eBay stock climbed 18-7/16 to close at 149-1/4 on Friday. And, eBay was up more than 15 points in early trading today. This might not be madness, but it sure seems like froth.