PayPal Holdings looks a lot cheaper after its historic wipeout. But the stock is dicier now, too. Buying the dip could lead to buyer’s remorse.
Shares of PayPal (ticker: PYPL) had their worst day since the company spun off from eBay in 2015, plunging nearly 25% to $132.30 Wednesday. The wipeout shaved $51 billion off PayPal’s market value, knocking it down to $207 billion. The decline pushed the stock’s price-to-earnings ratio down to 27.5, below its five-year average of 33 times forward estimates. The stock is now more than…