Some of the money being taken out off Amazon.com may be going into eBay, which is suddenly close to surpassing Amazon.com’s market capitalization for the second time ever. Shares of eBay had a wild ride on Thursday, dropping as low as 179, before closing up 22-7/16 to 215, a gain of nearly 12 percent.
eBay’s market cap was $26.895 billion after the markets closed on Thursday, compared to Amazon.com’s $27.105 billion. If you want an idea of how volatile the Internet sector has been this week, consider this: At the end of trading Friday, Amazon.com had a market value of $33.85 billion, compared to eBay’s $24.18 billion.
eBay had previously surpassed Amazon.com’s market cap in March, but Amazon.com moved past eBay one day later and has stayed ahead ever since.