The stock now shows its YTD (Year to Date) performance of 15.89 percent, whereas its Weekly performance stands at 1.92%.
The news was revealed after PayPal released its quarterly earnings that beat expectations on Wall Street, but gave bleak forward guidance for the next quarter.
EBay said the benefits of the changes would include lower costs for sellers and more payment options for buyers. The online auction house has inked an agreement with Adyen, an e-commerce company headquartered in Amsterdam, Netherlands, to take PayPal's place.
eBay has also begun making significant investments across its business to build the capabilities required to reduce its back-end reliance on PayPal and intermediate payments across its own platform.
Late Wednesday, eBay reported fourth-quarter earnings of 59 cents a share on $2.61 billion in revenue, which was in line with analysts' expectations. Dividends are mostly given in terms of cash payments, property or as shares of stock. Buying and selling on eBay now accounts for about 13% of PayPal volumes.
Government shutdown review: the rundown on the shutdown in plain English
What is happening to immigrants in this country right now - by order of this president and his advisers - is appalling. But that changed after the intervention of more conservative Republicans in Congress, and some top White House aides.
The company also announced an agreement with Synchrony Financial. When you pay with PayPal, your purchase is insured and PayPal will help you if you don't receive it or if the goods were counterfeit.
PayPal has been eBay's preferred provider for the past 15 years, and transactions through eBay account for about 13 percent of total payments processed by PayPal.
But Bill Ready, the payment processing company's COO, said investors need time to digest this news. At present time the stock is moving 34.74% away to its 200-day moving average. But that's slower growth than other parts of PayPal's operations, which means that eBay makes up a decreasing portion of the tens of billions of dollars of payments the company processes.
Dan Schulman, chief executive of PayPal sought to allay worries over the changing relationship with eBay, the company´s former parent, describing this as "manageable".
Jennison Associates LLC raised its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 117.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. Earnings excluding some costs were 55 cents a share, compared with the average forecast for 52 cents.