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Why PayPal Stock Has Cratered 24% This Week
Shares of PayPal (NASDAQ: PYPL) have cratered 24% from last Friday’s close week to date, according to data provided by S&P Global Market Intelligence, following an earnings report that just about brought down the entire payments segment. Although PayPal’s actual fourth-quarter results really weren’t so bad, it was its outlook for the coming year and a dramatic change in direction it’s taking that caused shares of Affirm, Block, SoFi Technologies, Shopify, and Upstart to all tumble in its wake. Revenue for the quarter was up 14% to $6.9 billion as PayPal’s total payment volume (TPV) grew 23% year over year.
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