1 Fintech Stock to Buy Right Now With $1,000

PayPal Holdings (NASDAQ: PYPL) has had a rough 2022 so far. Down 55% year to date, the global fintech leader's stock has gotten caught up in the broader retreat from tech stocks going on over the past year or so.

High inflation, rising interest rates, ongoing concerns about supply chains, rising gas prices, and a war in eastern Europe have all contributed to a shift to "safer" investments. Consequently, this has had an outweighed effect on richly priced technology companies, including PayPal. Also contributing to the price drop was some weaker-than-expected forward guidance from PayPal management. It said that unfriendly macro conditions and short-term company-related headwinds will likely lead to patchy growth rates this upcoming fiscal year.

In the long run, however, PayPal is firmly positioned to gain from the colossal shift toward cashless payments. Investors with extended time horizons should overlook the short-term noise and center on the endless potential that PayPal has over the long haul.

Source Fool.com