Jun. 30 at 7:00 PM
$PYPL remains a frustrating laggard. Most of the portfolio is performing well, but PYPL and
$NKE are still weighing on returns. Fundamentally solid businesses, but the market narrative and momentum are broken, and neither management team has managed to re-rate sentiment. At this stage, the market is waiting for a real catalyst, not incremental updates. Until that changes, capital stays trapped in low-multiple purgatory.
