Stock Watch: eBay’s Expansion Welcomed By Investors

Shares of eBay climbed more than 8.5 percent on Tuesday, rising 13-1/4 to 167-9/16 after the company announced their new regional Web sites. The new sites include New York, Chicago, Detroit, Phoenix, San Diego, Indianapolis, Columbus, Oklahoma City, Austin, and Raleigh-Durham, giving eBay a total of 30. eBay says the local sites offer customers the ability to purchase items that are difficult to ship, as well as to look for items that may be of interest in a particular geographical area.

Clearly, eBay is focused on adding to its leadership position in the online auction space while big companies try to catch up. It is early, but it looks like the much-hyped FairMarket auction network, which links together auction listings from heavyweights such as, Lycos, Excite, AltaVista, Dell, and Ticketmaster-City Search has not done much to stifle eBay’s growth. Shares of eBay could continue to climb as investors anticipate a strong quarter thanks to holiday shopping.

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