eBay (EBAY) Falls as Facebook Launches Marketplace

October 3, 2016 8:23 AM EDT
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Price: $29.06 +0.14%

Rating Summary:
    27 Buy, 25 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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(Updated 12:25PM ET)

eBay (NASDAQ: EBAY) is down 2.1% Monday after Facebook (NASDAQ: FB) announced its competing product Marketplace, which enabling users to buy products from local sellers.

While the impact of Facebook's new e-commerce effort for eBay and Amazon (NASDAQ: AMZN), Baird analyst Colin Sebastian said he sees limited near-term impact beyond headline risk.

"For eBay, which may be most exposed, we note 80% of listings are new products, which may have limited overlap with Facebook listings," he said.

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