Here's Why PayPal Stock Is Soaring Today
Payment processing company PayPal Holdings (NASDAQ: PYPL) was having an incredibly strong day on Thursday. As of 10:50 a.m. EDT today, shares of the fintech giant were up by 14% and hit an all-time high. The main driver behind PayPal's big move was its first-quarter results, which were released on Wednesday afternoon.
From the stock's price action, it's fair to say that investors liked what they saw in PayPal's report. It didn't even matter than the bottom-line earnings figure missed analysts' expectations.
Image source: Getty Images.
Source Fool.com
