ZM - After Holding for Nearly 9 Years I Just Sold PayPal Stock: Here's What I'm Buying Instead
2024-04-28 06:05:00 ET
When I first heard that PayPal Holdings (NASDAQ: PYPL) was going public, I couldn't wait to get my hands on shares -- literally. Instead of waiting, I purchased shares of its parent company, eBay, ahead of PayPal's spinoff. In 2015, that happened, giving me shares of PayPal on day one of trading.
Shortly thereafter, I sold my shares of eBay, but I've held PayPal stock through thick and thin ever since. That changed this month: After nine years, I finally decided to sell my entire position in PayPal. I also sold some of my position in Zoom Video Communications (NASDAQ: ZM) . And with this cash, I immediately went out and bought a meaningful position in Academy Sports and Outdoors (NASDAQ: ASO) .
Investing is personal, and I wouldn't suggest that people copy exactly what I do. But I would like others to know why I made these moves because my rationale could help guide their decisions under different circumstances.
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After Holding for Nearly 9 Years, I Just Sold PayPal Stock: Here's What I'm Buying Instead