Is PayPal Stock a Buy?
As a leader in the electronic payments space, PayPal's (NASDAQ: PYPL) fortunes were boosted by the coronavirus pandemic. With consumers spending more time than ever at home, online shopping surged, and with it, PayPal's share price jumped 256% between the March 2020 low and the peak in July 2021.
However, what goes up must come down. This fintech trailblazer has been dealing with macroeconomic weakness in recent quarters, with inflation hurting discretionary spending on its network and higher interest rates helping to drive down the share price. But with the stock now down 72% from its all-time high and 51% in the past 12 months, is PayPal a buy right now?
Inflation is a huge headwind for PayPal because its platform leans more toward discretionary purchases, and these items can be put on hold when times get tough. This dynamic helps explain the company's slowdown in 2022.
Source Fool.com
