And just like that, one week after its stock split 3-for-1, eBay (Nasdaq: EBay) became the most valuable retailer on the Internet — at least temporarily. It looked like Amazon.com (Nasdaq: AMZN) was safely ahead of eBay in market capitalization last week. But eBay has had five knockout sessions in a row, punctuated by a 14.6 percent gain on Monday. The stock closed Monday up 21-3/4 to 171, giving it a market cap of more than 20 billion dollars. Amazon.com closed Monday up 11/16 to 122-3/16, giving it a market cap of nearly 20 billion dollars.
But guess what? In early trading today, Amazon.com stock was trading up, and eBay stock was trading down. In early trading, Amazon.com had a market cap of more than 20 billion, while eBay had fallen below that level. It looks like a horse-race that’s tough to handicap. eBay is turning a profit, while Amazon.com isn’t, but it’s hard to imagine that eBay stock will keep rising as dramatically as it has in the past week. That is, unless, a deal with America Online actually happens.