Quote:
Originally Posted by Rain Man
PYPL is in my doghouse bad. It's one of my worst three stocks in my portfolio. When I bought it, I thought it was pretty safe, and it's done nothing but go down ever since.
I just did my weekly summary and I'm in a really foul mood right now. My invested assets are down 9 percent since July 31st and my total net worth is down 7 percent.
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My mom made the mistake of opening hers last week and it took several days for that mood to wear off. I almost felt sorry for dad.
I'm sure it was only a small part of it, but there is an auction house clone of eBay where you can buy firearms, parts, accessories, ammo etc. PayPal was basically it's only quick and easy version of payment for years because all three parties involved and .gov liked it's ease of use and trust throughout the background check process. Once some background on the company got out it's use was basically eliminated in that sector. That business is never coming back.
For me, it was all the email scams and their "the customer is always right" stance. Once people figured out how to play the system, sellers were getting ****ed left and right to the point many stopped accepting PayPal.