PayPal Near Its Cheapest Valuation Over the Past 10 Years -- Is It a Buy?
PayPal (NASDAQ: PYPL) started the year by rising 24% to an intraday high of $88.63 on Feb. 2, as many optimistic investors believed the Federal Reserve was close to ending its relentless rate hikes and the economy could achieve a soft landing -- an excellent scenario for this business. However, investors lost interest in the company after subsequent events showed the chances were high the economy would instead have a hard landing, a sharp economic slowdown. As a result, investors worry about a further deterioration in PayPal's revenue growth.
Now that today's stock price is closer to where it started the year, should you use the pullback in the stock's price to buy, or should you sit on the sidelines and wait until the danger of recession has passed?
Let's take a look at that question.
Source Fool.com
