Jim Cramer: eBay Downgrade Makes Sense Given Future Competition in Mobile Payment Space

eBay got hit with a downgrade Thursday morning when Piper Jaffray cut the stock to UNDERWEIGHT. TheStreet's Jim Cramer says the downgrade makes sense. He says a lot of people have been anticipating that when eBay splits from PayPal, PayPal will take off like a rocket. Well Google and Facebook have the ability to take this space by storm, Cramer says, Google with its Google Wallet and Facebook with its recently announced move into mobile payments via the Messenger app. He says he looks at this Facebook initiative and thinks, this is what my kids are comfortable with. And if you don't think about what your kids are comfortable with, you're missing the big picture. The big picture favors Facebook over Paypal, he says. Facebook and Google are core holdings in Jim Cramer's Action Alerts PLUS charitable trust portfolio.