Last year wasn't the best for (NASDAQ: PYPL). The one-time top growth stock ended the year down 14%, and it's still trying to find its footing as it deals with challenges on several fronts. Investors have lost confidence.
But are they getting it wrong? Let's see why there's so much pessimism, how PayPal is responding, and whether PayPal can still be a millionaire-maker stock.
PayPal's growth has slowed after soaring during the early stages of the pandemic lockdowns. Sales increased 8% in the 2023 third quarter compared with as much as 30% in some periods a few years ago, while total payment volume increased 15%. It's still the leader in digital payments, with $1.5 trillion in payment volume over the trailing 12 months and 430 million active customers. It's been struggling with pressure on the bottom line as well, and it posted a quarterly net loss in the second quarter of 2022, but that's on the mend.
Source Fool.com