PayPal Dips Below IPO Price

from the nosedive dept

Ed writes “It’s now barely one week after PayPal’s successful IPO, which had led some to speculate that perhaps the bad times were behind us and the glory days of hot new IPOs were here again. Now, this afternoon, the stock has given back all its initial gains and even momentarily dropped below the $13 IPO price, thanks largely to eBay’s increased investment in Billpoint. Last week I predicted it would go down, but this is an even shorter time frame than I expected.”

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