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No one can accuse eBay of holding on to things out of nostalgia.

Two days after shares of MercadoLibre (ticker: MELI), an Argentine online marketplace, traded to an all-time high, eBay (EBAY) announced it would sell most of its stake.

MercadoLibre subsequently announced that eBay would sell 7.1 million MercadoLibre shares to the public at $168 each, for a total of $1.19 billion. The underwriters also have an option to purchase up to 1,026,062 additional MercadoLibre shares from eBay. If that option is fully exercised, it would mean that eBay has sold all its holdings (for a total of $1.37 billion), down from an 18.4% stake before the sale.

EBay acquired an ownership interest when it entered into a strategic agreement with MercadoLibre in 2001, when MercadoLibre acquired iBazar Com Ltda, the Brazilian subsidiary of iBazar SA, which was acquired by eBay. When MercadoLibre went public six years later, eBay owned 8.1 million shares. Shares were priced at $18 each.

MercadoLibre shares have been volatile but overall have surged, reaching a record high of $193.58 on Oct. 10. Since then, shares have slipped a bit, closing at $168.01 on Monday.

EBay’s own shares have slumped, as well. With Monday’s close, the stock is down 12.3% since issuing disappointing fourth-quarter guidance after the market closed Oct. 19. That’s a loss of $4.57 billion in market capitalization–more than three times the size of the MercadoLibre stock sale.

We have cited a bullish report of eBay shares after the selloff.

Earlier this month, before the MercadoLibre transaction and the guidance disappointment, we also put forth the idea that eBay shares have another 25% upside.

“Expectations are low, and the valuation is modest,” we wrote. Expectations are now lower and the valuation, even more modest.

As far as MercadoLibre is concerned, S&P Capital IQ puts the analyst consensus at 2.81, or Hold, on a scale of 1 to 5 with 1 being the most bullish.