Down 66% From Its High -- Is Now the Time to Buy PayPal?
Stocks have gotten off to a lackluster start in 2022, with the S&P 500 index down 10% to start the year. It's been an even worse story for growth stocks. Since peaking in November, the iShares Russell 2000 Growth ETF has lost 24%, while the iShares Russell 2000 Value ETF has lost 13% in comparison.
PayPal Holdings (NASDAQ: PYPL) is one stellar growth stock that has taken a hit. Despite its record year in 2021, which CEO Dan Schulman called "one of the strongest years in PayPal's history," broader market weakness, investors' concerns about macroeconomic factors, and lowered guidance have played a role in PayPal's sell-off. With the stock down 66% from its peak at Thursday's prices, is now a good time to buy the payments giant?
2021 was an excellent year for PayPal, and the stock peaked around $310 per share last July with a lofty price-to-earnings ratio (P/E) around 75 -- so it isn't too surprising that it has taken a hit with other growth stocks.
Source Fool.com
