Ebay Shares Start to Shake Off the USPS Blues
Ebay (NASDAQ:EBAY) shares rebounded after falling more than 8% last week on news that e-commerce players stand to be affected by the massive post office closures at the U.S. Postal Service. With other e-commerce players like Amazon (NASDAQ:AMZN) leaning more heavily on Federal Express (NYSE:FDX) and United Parcel Service (NYSE:UPS) for shipping within the US, EBay stands to be impacted the most.
The company trades at a P/E ratio of about 22 which is in line with its industry. The company also trades at a sales multiple of 3.8 which is much higher than its industry rivals.
On the technical front shares trade above their rising 50 day and declining 200 day moving averages. The MACD is bearish while RSI is pointing up at about 47. Shares closed up 3.4% at $29.42.