Aug. 29 at 4:57 PM
$PYPL got smoked friday, down ~13%, after advent + stripe formally walked away from their reported ~
$50B (
$60.50/share) takeover. the buyout premium propping the tape just evaporated, no deal, back to fundamentals, and shares slid below
$54. this was the prior session's biggest large-cap drop. premarket was even uglier near -16% before it steadied.