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Amazon Removes PayPal's Venmo. Is This a Bad Sign?

PayPal's new CEO is convinced he can turn this ship around. But can he?

By Neil Rozenbaum – Dec 11, 2023 at 10:15AM EST

In this video, I will talk about PayPal (PYPL 1.13%), the recent announcement from Amazon about removing Venmo as a payment option in 2024, what impact it will have on PayPal, and whether this breaks the long-term thesis.

*Stock prices used were from the trading day of Dec. 10, 2023. The video was published on Dec. 11, 2023.

Read Next

John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Neil Rozenbaum has positions in Amazon and PayPal. The Motley Fool has positions in and recommends Amazon and PayPal. The Motley Fool recommends the following options: short December 2023 $67.50 puts on PayPal. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.

Stocks Mentioned

PayPal Stock Quote
PayPal
NASDAQ: PYPL
$50.88
(-1.13%)-$0.58
Amazon Stock Quote
Amazon
NASDAQ: AMZN
$249.84
(+0.63%)+$1.56

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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