2024-04-20 09:20:00 ET
Summary
- We have been adding to the stock slowly over the past two years, taking it back to a significant position in the portfolio.
- Many PayPal investors had incorrectly assumed their artificially elevated growth rates during the COVID-19 period would continue for years and were surprised when the normalization occurred.
- What sets PayPal apart is that the total company remained quite profitable as it pursued this aggressive growth in one side of the business.
- We continue to maintain a larger position in PayPal stock in anticipation of this turning point, and we are confident it is coming.
The following segment was excerpted from this fund letter.
PayPal ( PYPL )
PayPal has been a long-standing holding for Wedgewood, since 2015. After taking some of our gains around the company's COVID-19-fueled peak in 2021, we have been adding to the stock slowly over the past two years, taking it back to a significant position in the portfolio....
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Wedgewood Partners - PayPal: We Are Confident A Turning Point Is Coming