Why EBay (EBAY) Stock Is Lower Today

NEW YORK (TheStreet) --Shares of eBay Inc. (EBAY) are lower -2.37% to $50.54 on Wednesday following news that a second flaw in the auction website was discovered, the Telegraph reports.

Last week a security researcher uncovered a flaw in the website which led to a hack and the theft of personal details from 233 million eBay users.

On Friday Jordan Lee Jones, a British university student, emailed eBay to tell them of a "cross site scripting flaw" which can allow a hacker to collect personal information from eBay users that click on a page encoded with the script, the Telegraph noted.

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When eBay did not return Jones' email he published details of the script on his blog.

Separately, a report from Market Watch suggests that eBay could have a new competitor in Apple (APPL) as the tech giant is said to have "payment ambitions" that could impact eBay's successful PayPal service.

TheStreet Ratings team rates EBAY INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate EBAY INC (EBAY) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself."

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