Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, August 13, 2021

Article Excerpt

EBAY INC., $74.02, Nasdaq symbol EBAY, is a buy for aggressive investors. The company operates e-commerce websites, in over 190 countries, where sellers pay fees to auction items or offer them at fixed prices. eBay has now completed the sale of its classified ad business to Norway’s Adevinta ASA (Over-the-counter Pink Sheets symbol ADEVF). It received $2.5 billion in cash and 540 million shares of Adevinta. That will give it a 44% equity stake (33.3% voting stake) in the combined firm. To win regulatory approval for the sale, eBay has agreed to sell some of its Adventa shares for $2.4 billion. That will cut its equity stake to 33%. The company is also selling 80.01% of its business in South Korea to local online seller E-Mart for $3.0 billion. It expects to complete this sale by the end of 2021. Meantime, as stores re-open following the end of COVID-19 lockdowns, the number of active buyers in the second quarter of 2021 fell 1.2%, to 159…