Newegg has come under fire for not having a robust fraud and security process, but a new report claims the company is in the right place.
The Neweggs’ founder has not been charged with any crime, and the company’s founder has yet to be convicted, but it’s still unclear if the company will be able to stay afloat as a legal entity.
Newegg has struggled for years with a large influx of neweggers trying to buy a used PC, and that influx has made the company more vulnerable to fraud and theft.
According to the Wall Street Journal, Newegg is not only vulnerable to newegger fraud, but to theft.
In its most recent quarterly earnings report, Newellys parent company Dell was caught selling off the business’ inventory, and has since been fined for the transaction.
Newellys shares have plummeted from around $60 a share in January to around $20 today, and investors have lost over $6 billion.
The WSJ says Newellies stock has lost about 50% of its value in just three years.
However, newegg is actually more than just a used computer store.
Newegg operates an online marketplace called Newegg.net, where users can buy used PCs, and install software to help them keep their PC in good working order.
Newest users can also buy a Macbook Air and Windows 10 PCs, which are both great options for newegg owners looking to buy used computers.
Newelly.net is not just about buying new PCs.
Newcomers can also pay for hardware to make their own PC.
According the WSJ, NewElly.com has been criticized for being an online auction site, and not a legitimate business.
NewEllys founder, John Chambers, was caught on video in 2015 using a fake PayPal account to purchase a MacBook Air and buy a PC, which he later claimed was a Dell XPS 12.
NewEllys shares are down about 60% since the election, and have plunged more than 80% since January, according to Bloomberg.
It is also unclear whether Newellyns stock will continue to recover from the company being caught selling stolen PCs.