Apr. 23 at 6:41 PM
$PYPL Burry started a position. It doesn’t signal conviction. He can afford to be wrong and average down. Retail can’t. No business going long until this holds above
$60 for multiple sessions. You can’t be confident long until it clears
$80 consistently. PayPal Holdings Inc. can easily revisit the
$20S. Just look at the downward channel. Smart money toys with dumb money. They’ll short it hard again to flush retail out. I’m not on board until there’s a real rerating, and that takes a series of major moves and announcements.
I think PYPL is a great company and can reclaim fintech leadership, but that’s likely years out. I’m with smart money, not going long until they prove it. One catalyst that could kickstart that process is when the bank charter gets activated. That’s game changing.
