NewsHK
Merger speculation can carry a stock where its operating fundamentals leave off.
That has been PayPal's position for the past several months, but reports now say the takeover offer that propped up the payments company's shares has fallen through, sending the price lower.
What remains is a standalone turnaround, one management will have to run without the support of deal noise underneath.
A suitor is said to have walked away, and whatever bid premium had accumulated in PayPal's price needs to be repriced out.
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