Why PayPal Stock Was Surging This Week

Investors have been extremely willing to pay for (NASDAQ: PYPL) stock over the past few trading days. They were cheered by the announcement of not one, but two initiatives that, if managed well, will sharpen the company's competitive edge. This helped push its stock up by over 9% week to date as of Thursday night, according to data compiled by S&P Global Market Intelligence.

The first initiative was made public on Monday. PayPal announced that it was launching a 5% cash-back program for users taking advantage of its buy now, pay later (BNPL) service. This is to remain in force from that day until the end of this year.

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Source Fool.com