Why PayPal Stock Was Volatile Today
PayPal Holdings (NASDAQ: PYPL) was bouncing around on Tuesday, up 5.4% in morning trading, but then dropping as the day went on. By 2:20 p.m. ET, the share price was down 0.3% to $73.58.
The major indexes were up slightly on Tuesday, with the Nasdaq Composite up 90 points, or 0.8%, the Dow Jones Industrial Average up just 60 points, or 0.2%, and the S&P 500 up 24 points, or 0.6%, as of 2:20 p.m. ET.
There were a few factors that caused PayPal to move on the day, starting with the November Consumer Price Index, which saw the inflation rate at 7.1% year over year. That was down from 7.7% in October. It was also lower than economists expected, as the consensus was for inflation to come in at 7.3% in November.
Source Fool.com
