When eBay (EBAy) and PayPal (PYPL) split up in July 2015 (with eBay shareholders getting one share of eBay and one share of PayPal) I told myself (and readers) that I wanted to keep PayPal in my long term 50 Stocks Portfolio but would one day sell eBay out of that group.
Well, on October 31 I posted that I was keeping PayPal in that portfolio–the stock was up 73.37% on that date since I added it to the portfolio (after the split) and is ahead 83.84% for 2017 to October 31.
And in that same post I announced that I would be selling eBay out of this portfolio with a 64.97% gain as of October 31 since I added it to the portfolio back in May 2013. (eBay acquired PayPal in 2002.)
I’m keeping PayPal because it’s showing signs of being a winner in the revolution that FinTech is bringing to the financial sector. And I’m selling eBay because, in the long-term, I really don’t want to own a company that has to compete with Amazon (AMZN).