Here’s Why PayPal Stock Is Rising on Friday
A day after the worst stock market decline since 1987, the major indexes are rebounding nicely, with the vast majority of stocks in the green. As of 10:50 a.m. EDT on Friday, the Dow Jones Industrial Average, S&P 500, and Nasdaq were all higher by more than 3%, mainly fueled by hopes of a government stimulus to combat the COVID-19 coronavirus' effects on the economy.
One fintech stock that's having a particularly strong day is payment processing giant PayPal (NASDAQ: PYPL), which is up by about 6%, roughly doubling the gains of the broader market.
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Source Fool.com
