Here's Why PayPal Stock Is Falling on Tuesday
The stock market was having a strong rally on Election Day, with all three major averages higher by at least 1% at 9:45 a.m. EST Tuesday. However, fintech giant PayPal Holdings (NASDAQ: PYPL) was moving in the opposite direction, with shares down by about 5% shortly after the market opened.
PayPal reported its third-quarter earnings after the market closed on Monday, and the results were quite strong. Revenue soared by 25% year over year and the company posted $1.07 in adjusted EPS, an impressive 41% increase. And PayPal had 361 million active accounts at the end of September, adding more than 15 million during the third quarter alone.
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Source Fool.com
