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eBay reported FY2025 revenue of $11.1 billion and Q1 2026 revenue of $3.1 billion. The thesis depends on focused category execution, take-rate quality, advertising, buyer trust, payments and disciplined capital allocation.
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Datavault AI's Perpetuals.com agreement gives its RWA tokenization story a needed liquidity layer, but the investment case still depends on listings, trading volume, fee recognition, and cash collection.
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