eBay (NASDAQ: EBAY) has been implementing several changes within its core marketplace business over the last few years to improve the buying experience. While the changes should improve engagement over the long haul, they have caused some disruption to buyer conversion in the short term. As a result, eBay has seen its growth in gross merchandise volume (GMV) decelerate this year.
Despite the softness in GMV growth, eBay stock is up 37% since the beginning of the year, and there are several catalysts that could send it higher. Here's why investors are giving the company a pass on slowing GMV growth and why they remain bullish on the company.
Image source: eBay.
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