Ironically enough, the last company that HP (HPQ) CEO Meg Whitman led, eBay (EBAY), disclosed plans last week to spin off PayPal which was bought under Whitman’s watch in 2002.Considering that HP’s stock was up more than 4% Monday on the news and eBay surged 7.5% the day it announced its split, expect more spinoffs. Big companies live and die by the “me too” copycat strategy.If the stock market were a washing machine, we’re definitely in the middle of a “spin cycle” right now.Joe Cornell, publisher of Spin Off Research, a firm that tracks corporate splits, said that this is shaping up to be the biggest year for spin offs since 2000. And it’s not just technology companies that are selling off pieces of themselves either.The biggest spin off this year was GE’s (GE) initial public offering for its credit card unit Synchrony Financial (SYF).Related: Baby GEs? General Electric may need a breakupCNNMoney owner Time Warner (TWX) spun off its publishing unit Time Inc.
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