eBay Is Finally Worth Bidding For (Upgrade)

2026-02-19 19:01:41 ET

I have a confession to make. I have always loved playing chess. But in recent years, I have become obsessed with chess collecting. This includes everything from sets to pens to stamps to trophies and so much more. The biggest focus of my collection, however, would be chess clocks. As of this writing, I own 116 of them, one of which dates back as early as 1890. And almost all of them have been purchased since late 2022. I call it speedrunning to bankruptcy. While some of these have been purchased from other collectors in the space, as well as other miscellaneous websites and auctions, I would venture to say that more than half of them have been acquired from eBay Inc. ( EBAY ). So naturally, when I saw shares of the online auction site jump around 3.1% on Feb. 19 after management announced financial results for the final quarter of the company's 2025 fiscal year, and in response to the company informing investors that the business had acquired another online property, I felt as though it was a good time to revisit my previous thesis on the business....

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