Got $5,000? Buy This World-Class Fintech Stock While It's Down 49%
Shares of mobile payment leader PayPal Holdings (PYPL -1.71%) have surrendered 49% of their value year to date, thanks to a broader sell-off linked to stubbornly high inflation and rising interest rates. Macro headwinds, in addition to company-related issues like eBay's (EBAY -1.23%) transition to a different payments platform, has led to less-than-ideal growth for the financial technology (fintech) giant of late.
But I expect PayPal's business to spring back in a major way. Not only does the company hold 50.3% of the online payments processing market, but it also continues to broaden its business with service offerings such as Venmo -- a leading peer-to-peer payment platform -- and buy-now-pay-later (BNPL), an up-and-coming concept that allows consumers to pay for items in an equal number of installments over a set …
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