eBay Stock Dropped after Analyst Downgrade
The recent pullback has meant that eBay has fallen 24% in 2018. During its earnings call, PayPal (PYPL) reported a slowdown in merchandise volume at eBay, which led to a downgrade in stock ratings for the company. According to PayPal, eBay’s TPV (total payment volume) rose 3% YoY (year-over-year) in the third quarter compared to a 6% rise in the prior two quarters of 2018.