Here's Why PayPal Stock Is Falling

The stock market was having a fairly strong day on Wednesday, with all three major averages in positive territory as of 10 a.m. ET. However, fintech giant PayPal Holdings (NASDAQ: PYPL) was a major underperformer, with shares down by about 4%.

The reason behind today's move is news of a key executive's pending departure.

Specifically, Walmart (NYSE: WMT) announced that it has hired PayPal's CFO John Rainey to replace its outgoing CFO. Rainey will officially start his employment with the retail giant on June 6.

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Source Fool.com