PayPal Faces PR Nightmare Over Poor Handling of Regretsy Incident
TechCrunch comes down heavily on eBay’s (NASDAQ:EBAY) ham-handed handling of a charity using PayPal as a platform to collect money to buy holiday season gifts for kids of the Regretsy community, who are in financial hardship.
Apparently, PayPal shut down the account of the site Regretsy and froze its founder, April Winchell’s account, because she mistakenly pressed the Donate button instead of the Buy Now button on the PayPal site.
A memorable comment from an inept customer service representative in the e-mail exchange that followed, “You can use the donate button to raise money for a sick cat, but not poor people.”
Granted PayPal is always looking over its shoulder to nix various fraudulent schemes, but this is a bit much. In the process, eBay now has to defuse a PR fiasco of likely monumental proportions, not to mention the ludicrous e-mail exchange mentioned above, which should, rightly so, become viral on the net.
Here’s how eBay’s stock is trading on the news:
eBay Inc. (NASDAQ:EBAY): EBAY shares recently traded at $31.16, up $0.46, or 1.5%. They have traded in a 52-week range of $26.86 to $35.35. Volume today was 1,206,985 shares versus a 3-month average volume of 13,036,100 shares. The company’s trailing P/E is 22.73, while trailing earnings are $1.37 per share.
Amazon.com Inc. (NASDAQ:AMZN): AMZN shares recently traded at $196.44, up $0.2, or 0.1%. They have traded in a 52-week range of $160.59 to $246.71. Volume today was 788,853 shares versus a 3-month average volume of 7,042,280 shares. The company’s trailing P/E is 103.55, while trailing earnings are $1.90 per share.
Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $627.41, up $1.76, or 0.28%. They have traded in a 52-week range of $473.02 to $642.96. Volume today was 410,253 shares versus a 3-month average volume of 3,159,890 shares. The company’s trailing P/E is 21.39, while trailing earnings are $29.34 per share.