PayPal shares recover slightly premarket after 9% decline this week
Shares of $PayPal(PYPL.US$ edge slightly higher in premarket, but still down about 9% this week as noise surrounds its recent consideration to acquire social media company $Pinterest(PINS.US$ in a $45B deal.
PYPL is also down roughly 10% M/M, trading at its lowest level since mid-May, but rises 14.2% in the past year.
Regarding the potential Pinterest acquisition, Truist analyst Andrew Jeffrey said the deal makes "zero sense" and may create conflict with the digital payments platform.
In addition, The Wall Street Journal recently said that PYPL's almost 5% decline on Thursday could put the potential deal in jeopardy since much of the purchase price would be in the form of its own stock.
In other recent news, PayPal along with some of its big tech competitors have been ordered by the Consumer Financial Protection Bureau to hand over information regarding their payment platforms.
Previously, (Sep. 28) PayPal stock continues to slide, but still outperforms S&P this year.
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Adamjk : Nothing happens and PayPal is down more than ten percent. So far this has been just noise. Nothing real.
The quality of the company hasn’t changed at all. This is the same PayPal. The major disruptor of financial services and a company with a big vision.
Seems like a welcome discount. This is what I do: I buy the dip and accumulate a bigger position in PayPal.
robotemily : These are tense times. It all rides on the next wave of news out of the Pinterest deal.
waltcessna : Appalling move from PYPL