eBay jumps of Elliot Managements $1.4 billion stake and business recommendations
eBay Inc. (EBAY) is up 8.4% Tuesday morning on news of Elliot Management’s 4 percent stake in the company. Elliot disclosed the $1.4 billion stake in eBay and the activist manager sent the company’s board of directors an extensive letter of recommendations for the company moving forward. Elliot wants to see the company spin off parts of the business, including StubHub and the company’s “portfolio of Classifieds properties”, with the opinion that the assets are worth more alone than as a part of eBay.
eBay Inc. (EBAY) is an e-commerce platform.
Fifth Third Bancorp (FITB) and The Travelers Companies, Inc. (TRV) top the list of other companies with positive news today, while Stanley Black & Decker, Inc. (SWK) and Allegheny Technologies Incorporated (ATI) top the list of companies with negative news.
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About eBay Inc.
With $95 billion in gross merchandise volume facilitated in 2018, eBay's Marketplace facilitated nearly 4% of the $2.6 trillion global online commerce market. EBay's strategic priorities include revitalizing its Marketplace platform by emphasizing its unique product assortment and value proposition, improving the seller and buyer experience, utilizing structured data/artificial intelligence for listing searches, promoted listing advertising, and improving its mobile commerce capabilities. EBay partnered with Netherlands-based Adyen for payment intermediation beginning in 2018.