eBay was down 1 3/16 at 47 5/16 in early trading Monday after the online auctioneer posted a message on its Web site saying technical glitches that have slowed the site and made some features unavailable over the past two weeks may continue.
eBay said the problems stem from a server-switching project that began August 2nd. “Unanticipated technical problems” caused some functions to stall and slowed the site, the company said in the message to users posted late Friday. While the problems are “unacceptable,” the company said, “we have to continually make changes to meet the growing demands of the successful marketplace that the eBay community is creating.”
Also weighing on the stock were reports from Barron’s that said eBay’s domestic auction business may be slipping.