PayPal gives downbeat earnings forecast, shares plunge

:PayPal Holdings Inc on Tuesday forecast first-quarter revenue and profit well below expectations, as it prepares to take a hit from eBay Inc's ongoing move to ditch its payments services, sending its shares down 17.4per cent.

"In the second half of the year, I look forward to being able to stop adjusting for eBay, and letting the strength of our core results speak for themselves," Schulman added. "Many of these stocks have been pushed up for years and have had very high valuations, so once they start to show cracks investors bail."

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