Invest in This Profitable Growth Company to Survive This Terrible Bear Market
PayPal Holdings (NASDAQ: PYPL) was one of the biggest beneficiaries of rising e-payment use during the pandemic, due to its status as the oldest and most prominent company in the industry. The stock soared throughout 2020 into 2021 on the back of surging growth in total payment volume (TPV) and revenue. As a result, between the end of 2019 to July 23, 2021, the stock skyrocketed 185% to an all-time closing high of $308.53.
Unfortunately, rapidly rising interest rates hurt the company's results in 2022. The stock has dropped like a rock and is sitting near a 52-week low today -- demoralizing investors. Many are wondering whether they should continue holding the shares, considering the significant losses.
But the savvy long-term investor has put PayPal on their 2023 buy list. Here's why.
Source Fool.com
