New purchase PayPal

Yesterday I shared my thoughts on PayPal $PYPL (-0,29 %) and today, at the stock market launch in the USA, I got straight down to business and opened a first position.

I don't see PayPal as a growth monster, but rather as a value play:

• Management change shows first fruits (catalyst for revaluation)
• Free cash flow yield historically high
• massive share buybacks (probably 7-8% of own shares will be bought back this year alone)
• Solid and stable user base that can be further monetized

The moment after the short-term sell-off following the good quarterly figures seems favorable to me. We will see whether it goes down a bit further. There may still be an opportunity to buy more.