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Carl Icahn Joins The Paypal Holdings Inc (PYPL) Party, Ditches eBay Inc (EBAY)

In the most recent quarter, American business magnate Carl Icahn made headlines by buying up shares of Paypal Holdings Inc (NASDAQ:PYPL), while ditching eBay Inc (NASDAQ:EBAY). The two companies split over the summer after more than a decade of working together in order for each company to pursue its specialty business.

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Icahn’s hedge fund most recently sold out all of its eBay shares and replaced them with PayPal. The fund now owns over 46 million shares of the online payment company valued at $1.44 billion, which comprises about...