Carl Icahn even went after the stock. He called for a spinoff of Paypal.
eBay's stock has been range bound for 1.5 years now. Largely fluctuating between $50 and $60 a share:
But the most interesting thing happening at eBay right now is its announcement to repatriate some of the cash it holds overseas:
$EBAY repatriating cash to increase financial flexibility for "growing opportunities in the US." But not announcing any major deals.- Ned Graham (@nedgraham) Apr. 29 at 05:23 PM
It's estimated that multinational U.S. companies hold more than $2 trillion in accounts that are maintained in places like the Cayman Islands.
What will eBay do with its cash? No one knows just yet, but it is a development that has to be watched for several reasons. The cash, for example, could be used to fund a major acquisition. The Street's Antoine Gara wrote about some of the possibilities in his post eBay Tax Hit: Ray of Hope or Storm Cloud for Silicon Valley?
It'll send Silicon Valley into a euphoric frenzy if eBay uses its funds to acquire Pinterest or AirBnB or Square. A development like that would have wide-ranging implications on the entire stock market, too. It would most likely send tech valuations even higher than they are now.