PayPal stock has surged 17% since enabling Bitcoin purchases
The online payment platform launched crypto trading for U.S. customers on Nov. 12. PayPal’s stock reached record highs on Monday, capping off a strong period of outperformance relative to the Nasdaq and broader U.S. stock market. Since Nov. 12, the technology-focused Nasdaq has gained around 6.5%. The broad S&P 500 Index of large-cap stocks is up 3.5% over the same period.PayPal stock's 3-month performance by barchart.comAlthough PayPal’s foray into crypto isn’t the only catalyst behind its vast outperformance, the merchant processor is well-positioned to capitalize on the growing adoption....
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E-commerce giant Paypal’s stock price surged to a new all-time high of $223.16 on Monday, December 14. Since November 12, when the payments giant opened the way for its US customers to start trading cryptocurrency, the stock has soared 17%. Paypal’s Turnaround The stock’s record-breaking performance comes after Paypal recently reported a drop in its third-quarter earnings in October. While that performance subsequently forced Paypal not to provide preliminary guidance for 2021, there is, however, a belief that the cryptocurrency trade service will result in a turnaround....
After more than a decade of being part of eBay Inc. , PayPal will return to the stock market as an individual company. Shares of PayPal (PYPL.O) jumped up 11% in value as people anticipate the company’s return to NASDAQ. With that rise, and adjusting for market stabilization, PayPal is now valued at about $52 Billion. Online payments have changed considerably since 2002 when eBay acquired PayPal, and the popularity of PayPal has lead to a relationship that hinders the potential of PayPal. Processing over $235 billion in 2014, PayPal handles some massive transaction volume on a daily basis,....
In September 2014, eBay announced plans to separate eBay and PayPal. In a recent SEC filing, eBay confirmed that a newly formed corporation named PayPal Holdings, Inc. ("PayPal") will take over the businesses that make up eBay's payments segment. eBay, the existing publicly traded corporation, will continue to operate its marketplaces business. The separation, which will provide current eBay stockholders with equity ownership in both eBay and PayPal, will be effected by means of a pro rata distribution of 100 percent of the outstanding shares of PayPal common stock to holders of eBay....
In a recent PayPal survey regarding online shopping and payment methods, PayPal asked Reddit user SwiftBoatVet whether or not they used Bitcoin as a method of payment for goods and services. That's when Vet startedtaking screenshots of the questions that PayPal began asking once they said yes. CCN. In a post on Reddit, Vet stated, "Halfway through, the questions changed to Bitcoin specific. There were about four to five pages comparing PayPal and Bitcoin." The questions, documented throughout this article, were asking Vet to rate PayPal against Bitcoin on a scale from one to ten; one being....
The CEO tweeted a screenshot of an apparent $100 purchase of Bitcoin using the service well ahead of its official rollout date. There has been significant excitement in the industry since PayPal last week announced its intention to enter the cryptocurrency market. The rollout of its new crypto services — enabling both crypto payments and direct, in-app purchases of crypto — has been officially set for early 2021.Yet on Oct. 28, the co-founder and CEO of crypto payments firm Circle, Jeremy Allaire, claimed to have used the PayPal app to buy $100 worth of Bitcoin (BTC), tweeting a screenshot....