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Online sales jumped on Cyber Monday, sending e-commerce retailers' shares higher and suggesting strong growth from earlier in the holiday shopping season is continuing for now.
Sales on eBay Inc's online marketplace were particularly strong and Amazon.com Inc continued its rapid holiday shopping season growth, according to early Cyber Monday data released by e-commerce firm ChannelAdvisor.
EBay's shares climbed 4.9 percent to close at $51.40. The stock hit an intra-day high of $51.78, the highest level since early 2005. Amazon's shares gained 1.6 percent to $243.62.
...This year, eCoupons.com predicts that Cyber Black Friday sales will grow to almost $1 billion.
Last year, shoppers spent $816 million online. This year more than one thousand retailers are starting their online sales ahead of Cyber Monday, and this could lead to 20% more sales.
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