Public Investment Fund Cuts Share Stake In PayPal By 76.5% To 1.8M Shares
Portfolio Pulse from Benzinga Newsdesk
The Public Investment Fund (PIF) has significantly reduced its stake in PayPal, cutting its shareholding by 76.5% to 1.8 million shares.
May 15, 2024 | 3:10 pm
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NEGATIVE IMPACT
The Public Investment Fund has reduced its stake in PayPal by 76.5%, now holding 1.8 million shares. This significant reduction could indicate a lack of confidence in PayPal's short-term performance.
A substantial reduction in shareholding by a major investor like the Public Investment Fund can be perceived negatively by the market, potentially leading to a decline in PayPal's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100