Paypal Holdings Inc (NASDAQ: PYPL)
Paypal Holdings wasn’t off to the best of days in the market today. In fact, on the closing bell, the stock started falling, making its way well into the red. That is until minutes ago, when the stock spiked quickly into the green. Today, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to PYPL ahead.
What We’re Seeing From PYPL
As mentioned above, Paypal Holdings wasn’t off to the best of starts to the trading session today. After the opening bell rang, the stock started falling. However, minutes ago, we started to see a spike in value that pushed the stock up into the green. Currently (10:42), PYPL is trading at $39.09 per share after a gain of $0.15 per share (0.39%) thus far today.
Why The Stock Is Climbing
As normal, when we noticed that the stock was spiking, the CNA Finance team started working to see what was causing the movement in the market. In this particular case, we were unable to dig up any big fundamental news that would lead to such a spike. However, we did find something in the social realm that’s likely causing the gains on PYPL.
A quick search on social media shows that there’s quite a bit of chatter surrounding Paypal Holdings at the moment. If the social rumors are correct, the stock is lining up to be acquired. Nonetheless, it’s important to keep in mind that the movement we’re seeing is being caused by an unconfirmed rumor.
What We’ll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on the PYPL story. This movement is being caused by a rumor, and, in most cases, rumors aren’t fruitful. Nonetheless, if an acquisition happens, it will return value to shareholders, and that’s exciting. We’ll keep an eye on the news and update you as it breaks!
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[Image Courtesy of Wikimedia]