eBay stock slips after closing $295M acquisition
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eBayâs (NASDAQ:EBAY) announcement that it has closed a $295M acquisition of card collector marketplace TCGplayer led shares lower on Monday.
eBay (EBAY) indicated on Monday that the move to acquire the online marketplace was done in line with a company strategy to cater to even âenthusiasts.â Additionally, eBay noted that it has made particular investment in the trading cards and collectibles category in recent years. 
"By joining forces with TCGplayer, eBay has even more ways to connect brick-and-mortar hobbyists and sellers with passionate collectors around the world," Dawn Block, VP of Collectibles at eBay, said. "Our two companies share similar values and a deep commitment to the collectibles community, and together we will continue delivering best-in-class experiences for our customers."
Shortly after the market open on Monday, shares of the San Francisco-based e-commerce company slid about 1.7%, peeling back a modest gain to about a 0.9% drop in the first hour of trading on the day. 
Read more on the details of the transaction.