While many stocks had a strong 2023, some didn't. Unfortunately for PayPal (NASDAQ: PYPL) investors, that trend persisted in 2021 and 2022. PayPal's stock has lost value for three straight years, but there are some strong indicators pointing toward a recovery year in 2024. So, if you're looking for a great stock pick for 2024, PayPal is shaping up to be one of the best.

Part of the reason many of the fabled "Magnificent Seven" stocks did well in 2023 is that they entered the year at a low valuation. Sometimes, the market gets too pessimistic about businesses, and all it takes is one solid quarter to kick-start a new wave of growth.

Meanwhile, PayPal stock is still trading at unbelievably low levels, making the stock appear attractive.

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Source Fool.com