Sep 8, 2026 3:55 PM

The market is dead wrong to treat PayPal as a broken story. Despite the stock's collapse, it remains a powerhouse with 434 million active accounts and $6 billion in free cash flow. Even Stripe’s $53 billion acquisition offer underestimated its value; the reality is that Stripe simply cannot scale to PayPal’s level anytime soon. PayPal is currently priced as a failure, but its massive distribution is too cheap to stay this way. Is the market blind, or is PayPal a value trap?
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