Short-term Profit Taking vs. Long-term Value Creation: The Future of PayPal
In January, activist investor Carl Icahn acquired around 2 percent of eBay’s stock. A month or so later, eager for a return on his investment, he published an open letter to eBay’s shareholders. In it, he expresses concerns about the “long-term value” of the eBay subsidiary PayPal, and its ability to “remain competitive over the long term.”…