Over 1 Trillion Reasons to Like PayPal Stock
After registering tremendous growth as a direct result of the coronavirus pandemic, PayPal's (NASDAQ: PYPL) business dealt with a huge slowdown in 2022 as consumers reverted to more normal behavior and the macroeconomic picture weakened. Investors soured on the stock, sending shares down a whopping 62% in 2022.
However, the pessimism might be overblown. In fact, there are still 1.36 trillion reasons that investors should love PayPal stock. Let's take a closer look.
In 2022, the fintech leader reported that it processed an incredible $1.36 trillion in total payment volume (TPV), up from $1.25 trillion in 2021 and $936 billion in 2020. This figure measures the entire dollar value of all the transactions that occur on PayPal's network, and it demonstrates the company's continued dominance in electronic payments.
Source Fool.com
