Here’s How Wedgewood Views PayPal Holdings (PYPL)

[Gunnar Larson]

https://finance.yahoo.com/news/wedgewood-views-paypal-holdings-pypl-065104155.html


"PayPal Holdings, Inc. (NASDAQ:PYPL) has been a long-standing holding for
Wedgewood, since 2015. After taking some of our gains around the company's
COVID-19-fueled peak in 2021, we have been adding to the stock slowly over
the past two years, taking it back to a signi2icant position in the
portfolio.

We would like to update you on our current thinking.

Like most "COVID-19 stocks", a variety of companies (e.g., Amazon)
bene2ited from arti2icially high growth rates due to the COVID-19 lockdowns
and subsequent stimulus; fundamentals at PayPal saw a normalization as the
world returned to normal through 2021- 2022. Similar to most of those
companies, many PayPal investors had incorrectly assumed their arti2icially
elevated growth rates during the COVID-19 period would continue for years
and were surprised when the normalization occurred, leading to a decline in
the Company's admittedly overheated stock. The big difference between
PayPal and many of these stocks (e.g., Amazon once again) is that PayPal
still has not recovered from this broad normalization period…”
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