PayPal Stock Plunge: Smart Buy or Falling Knife?

Wall Street's favorite digital payments dinosaur stumbles—again. Is this a golden entry point or just another value trap?
The bear case: Rust in the gears
Transaction growth slows as crypto-native alternatives eat PayPal's lunch. Those "innovation" budgets? Mostly funding legacy system maintenance.
The bull argument: Still the 800-pound gorilla
Merchant network effects don't disappear overnight. The stock's P/E ratio now sits below traditional banks—for a company growing twice as fast.
The cynical take
Another "transformation play" where management will miraculously discover blockchain...right after their options vest. Buybacks incoming!