Why eBay Gained 15% in June
Shares of eBay (NASDAQ: EBAY) gained 15.3% last month, according to data provided by S&P Global Market Intelligence. The rally, which was spurred by a series of developments, not only unwound a couple of sizable pullbacks the stock suffered earlier in the year, but carried it well into record-high territory.
Don't look for any single catalyst. Rather, a series of bullish headlines all contributed to eBay's strong June performance.
That series began with the official announcement that eBay would offer guaranteed authentication of luxury handbags sold via its e-commerce platform. While that's an encouraging development in and of itself, it's also reflective of a more sweeping overhaul at the company that is allowing it to do something that bigger rival Amazon (NASDAQ: AMZN) still struggles to do: offer some guarantees about the quality of products sold by third parties on its platform.
Source Fool.com
