I'm considering growth stocks with caution, and eBay's recent performance is on my radar. The stock has gained 13.9% over the past month and 10.7% over the past three months. While this is a respectable showing, I'm keeping a close eye on valuation. eBay's recent daily close is $121.94, and I'm waiting to see how the company's durable revenue growth and technology adoption will play out in the coming years. I'm not one to back a stock that's already run far ahead of its evidence, and I'll be keeping a close eye on eBay's progress before making any investment decisions. For now, I'm taking a cautious approach and waiting for more evidence before backing this underdog.