Being a PayPal (NASDAQ: PYPL) investor has been painful the past few years. If you initiated a position in the summer of 2017, you saw the stock nearly gain 500%, only to crash back down to the same levels at which you bought it. However, back then, PayPal's quarterly total payment volume was only $106 billion versus the $388 billion it processes in each quarter now.

So, how can a stock trade at the same levels despite incredible business growth? It all concerns sentiment and expectations, and PayPal's are incredibly low. However, I think this could all turn around in 2024, making it a great year to own PayPal stock.

In 2017, PayPal was still a strong pick for a company that could capture the growing mobile payments market. Now, it has clearly lost ground to apps the phone creators champion.

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Source Fool.com