PayPal Stock Rises More Than 10% in a Week After New CEO Alex Chriss Promises That the Company Will "Shock the World"
In August, financial technology (fintech) pioneer PayPal Holdings (NASDAQ: PYPL) named Alex Chriss as its new president and CEO. Chriss officially took over on Sept. 27. Now four months later, Chriss has scheduled a presentation for Jan. 25. And in an interview with CNBC, he said the presentation will "shock the world."
This was Chriss' first interview since taking over at PayPal, and it certainly made an impression with investors. Since Chriss promised to shock the world, PayPal stock is up more than 10%. For perspective, PayPal stock was down about 14% in 2023, underperforming the 24% gain for the S 500 index by a wide margin.
After a couple of years of lackluster results, can PayPal truly shock the world and finally turn things around for shareholders? The answer is surprisingly "yes," with an important caveat.
Source Fool.com
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