Even eBay can't bid high enough to beat the lagging economy.
The company's shares dropped 7% yesterday after the company reported that some key indicators of its financial health were in a slump. EBay CEO John Donahoe attributed the poor performance to the weak economy.
Among the telltale signs of slowdown: The value of goods sold on the site only rose 4% between April and June, half the rate increase of the previous three months. Donahoe also said that the weak economy has pushed consumers away from higher priced goods, stagnating eBay's car sales, which had jumped 7% in the first quarter.
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