PayPal IPO 2015: PYPL Stock Price Soars 11% On Wall Street

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PayPal Holdings Inc. (NASDAQ:PYPL) made its stock market debut for the second time on Monday. The transaction follows the digital payments company’s spinoff from eBay Inc. (NASDAQ:EBAY) and values it at around $47 billion — some $13 billion higher than its former parent company. Founded in 1998, PayPal made its first initial public offering of stock in February 2002 on the Nasdaq under the same ticker symbol “PYPL” before it was acquired by eBay in October of the same year for $1.5 billion.

PayPal began trading with a market value of $46.6 billion Monday, a greater market capitalization than that of eBay, whose value will shrink to around $34 billion, according to data compiled by Bloomberg.

Shares of PayPal jumped 11 percent in morning trading to as high as $42.55, while shares of eBay dipped 2 percent to a 52-week low of $26.59.

EBay Inc. unveiled plans in September 2014 to separate itself and PayPal into independent, publicly traded companies in 2015, a move activist investor Carl Icahn demanded earlier that year. Icahn said spinning off PayPal would help shareholders while removing possible conflicts of interest.

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