Many growth stocks continued their brutal descent on Friday. Prior to their recent downturn, Shopify, Square, and PayPal had seen their stock prices rise sharply from March lows. After their stocks sold off violently in the early stages of the pandemic, investors began to flock to these e-commerce and digital payment leaders' shares, as they realized the COVID-19 crisis was accelerating the migration of retail sales to online channels. Read More...
Why Shopify, Square, and PayPal Stocks Plunged Today
Many growth stocks continued their brutal descent on Friday. Prior to their recent downturn, Shopify, Square, and PayPal had seen their stock prices rise sharply from March lows. After their stocks sold off violently in the early stages of the pandemic, investors began to flock to these e-commerce and digital payment leaders’ shares, as they realized the COVID-19 crisis was accelerating the migration of retail sales to online channels.
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