, for $500 million at the initial public offering price, had declined 34%. Another investment, in Latin American online retailer MercadoLibre Inc., had declined 10%, PayPal said.
PayPal’s stake in the world’s largest ride-hailing business was tied to what the companies described as a closer collaboration on payments technology. Uber is the most prominent app to use PayPal’s nascentfeature. But Uber’s stock has underperformed because of a combination of slowing growth and accelerated losses.
In an email, a PayPal spokeswoman cited the “inherent difficulty” in predicting the stock market for the mismatch between its previous forecast and reality. The company will report financial results on Oct. 23.
I'd rather take my chances with the bus, train or friends auto ....lol