eBay (Nasdaq: EBAY) stock rallied furiously on Thursday, closing up 21-3/4 to 171-3/4. The stock is now less than six points away from its all-time high.
On Wednesday, eBay reached agreement with New York City’s consumer protection agency on a set of anti-fraud measures. Also on Wednesday, Pacific Crest Securities upgraded eBay to a strong buy from a buy.
Just last week, concerns about Amazon.com’s new auction offering were bringing down eBay stock. How quickly sentiment can change.