PayPal came out with good Q1 figures and very good news about its P2P service Venmo.
It looks increasingly likely they have one of the major payments platforms for the digital age and worries about the fintech revolution might be overblown.
While we have little doubt the future contains significant leverage in the business model, this is less apparent at present than management wants you to believe.
We would buy the shares if the gap fills in the graph.