eBay (EBAY) To Thrive On American Thrift
Andrew Snyder (December 5th, 2008) Writes:
Cyber Monday was better for online retailers than most expected. But consumers were only interested in heavily-discounted goods. That’s why Andrew Snyder thinks eBay (NASDAQ:EBAY) is well placed to turn a profit this Christmas. It not only attracts bargain hunters, but also sellers desperate to raise cash. And better still, it has a balance sheet that most companies dream of these days.
During the Great Depression, financially devastated Americans sold turnips along side the road to make ends meet. Today, they merely boot up their computer and sell their junk online.
For proof, I called up an acquaintance that makes her living buying and selling on eBay (NASDAQ:EBAY). She answered the phone sounding like she had just spent the last 48 hours on a runaway treadmill. She was tired and grumpy.
“So how did Cyber Monday treat you,” I asked.
“It was insane. I have more orders than I can handle,” I
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