Why PayPal Stock Soared 58% in May
Shares of PayPal (NASDAQ: PYPL) jumped 26% last month, according to data from S&P Global Market Intelligence, following the release of the financial technology company's strong first-quarter results.
PayPal added more than 20 million net new active accounts, including the 10.2 million it obtained from its $4 billion acquisition of online savings platform Honey in January. That helped PayPal's total payment volume rise by 18%, which, in turn, fueled a 12% increase in revenue, to $4.6 billion.
Source Fool.com