Paypal (eBay) stock opens at a loss thanks to #OpPayPal

google.com

11 points·makethetick··5 comments

Correlation does not imply causation.

Ebay's last Q2 spooked a lot of investors due to their decreased income and margins. The Nasdaq as a whole is down today (so far).

I would suspect that Ebay is more negative than the market due to spooked investors taking this general market malaise as an excuse to bailout.

Given that I see nothing about #OpPayPal in the business news journals as of yet, I would be very surprised if the movers and shakers that hold eBay stock are reacting to it.

(This post does not constitute investment advice of any kind, and I do not hold eBay stock.)

Agree. Investors are quicker to jump on any reasons to take profits and run more than they have in better economic times. I don't think 24,000+ tweets or even 10x that number are influencing markets, especially given the nature of the boycott.

For those that weren't aware (I wasn't), #OpPayPal is a boycott that Anonymous and LulzSec have called for on PayPal. The two groups are encouraging users to shut down their PayPal accounts and withdraw any funds in protest of PayPal's treatment of WikiLeaks.

Surely it was Steve Yegge's blog post that caused the loss.

http://steve-yegge.blogspot.com/2011/07/ebay-patents-10-clic...

Note that the markets in general are down at the moment, due to uncertainty about the US raising the debt ceiling.

Having said that, ebay is down a little more than, say, the NASDAQ index.

Reply on news.ycombinator.com