• eBay (EBAY) cleared UK CMA approval for its $1.2B cash buy of Depop. Depop had ~7M active buyers and ~3M active sellers as of Dec 31, 2025; majority of buyers under 34.
  • Baird kept an Outperform on eBay (EBAY) and raised its price target to $125 from $117; no operational details were provided.