Here's Why I Just Bought PayPal
Many companies in the fintech industry have been hit particularly hard in the recent stock market downturn. PayPal (NASDAQ: PYPL) is one major example, with shares down by nearly 75% from their recent highs.
Despite the poor stock performance, it's important for investors to realize PayPal's business is still doing quite well -- it's growing and generating billions of dollars in profits annually. Here's a rundown of the major concerns investors have about PayPal and why I decided to finally add the stock to my own portfolio recently.
There have been some negative catalysts so far this year that have pushed PayPal stock lower. Its fourth-quarter 2021 and first-quarter 2022 earnings reports both showed user growth that came in significantly short of expectations, and the company has essentially conceded that its growth target of 750 million users within a few years (current user count: 429 million) is unlikely to happen.
Source Fool.com
