(NASDAQ: PYPL) has seriously crushed investors' portfolios, as the stock is down 79% from its peak price set in July 2021. Even this year, when the overall market has bounced back from last year's double-digit loss, this payments business has gotten hammered.
Is this leading fintech stock worth buying right now on the dip? Let's take a closer look at the pioneer of digital payments.
While the COVID-19 pandemic was a huge headwind for many companies out there, it turned out to benefit PayPal tremendously, as revenue, total payment volume (TPV), and active accounts surged in 2020 and 2021. Flush with cash and limited in places to spend it, consumers turned to online shopping, which leans toward discretionary spending, something that propelled PayPal.
Source Fool.com