In a world where many are still struggling to find bargains, eBay’s auto parts are still very much in demand.
But the company’s stock has fallen sharply in the past year, with the company reporting a net loss of $1.6 billion for the quarter.
And it has yet to recover much of its $2.2 billion loss in the same period last year.
A new report from The Wall Street Journal, however, finds that the company may be on track to profit even bigger from a new stock split, which could lead to higher stock prices and a greater profit.
Ebay’s stock fell more than 4% during the quarter and is down more than 50% since last year, when the company reported its first profit since 2013.
The stock has gained nearly 3% since it began trading on the market in November 2017.
The Journal report notes that the deal could provide eBay with an unexpected boost to its profits as it faces increased competition from Amazon.com Inc. Amazon has long dominated the online marketplace with its Kindle e-readers, and has expanded into the automotive market with its own e-commerce platform.
The deal would also give eBay a major new piece of hardware, as it will be able to build its own vehicle factory.
A $50 million order to build the new facility was completed last year and will start operating in 2021, with completion expected this year.