eBay tanked following PayPal reporting weak TPV numbers for the online merchant.
The online retailer has only started the process of managed payments that removes PayPal from the process.
The stock is incredibly cheap with no actual confirmation that GMV will be weak due to the payments transition.
eBay(EBAY) plunged 9% on Friday as the market reacted to GMV numbers provided byPayPal(PYPL). Considering eBay is in the process of implementing managed payments that removes PayPal from the process, investors need to be careful with data from a potentially unhappy partner. Myinvestment thesisremains bullish.