A new bull market might be underway, but someone forgot to tell PayPal (NASDAQ: PYPL) and Block (NYSE: SQ). The two digital payments and fintech stocks are still trading down nearly 30% over the last year, and have yet to show much get-up-and-go so far in 2023. 

PayPal's days of high growth are likely over. It's still putting up decent numbers, but a new CEO hasn't been announced yet. Investors are still waiting to see if the company's new focus on profitability is the real deal or not.  

As for Block (formerly Square), it's still growing at a brisk pace. Gross profit was up 32% year over year in the first quarter. However, news came out over a failed investor lawsuit accusing CEO Jack Dorsey and the board of directors of failing to uphold their fiduciary duty to shareholders when it acquired Jay-Z's music streaming service Tidal in 2021. By all accounts, records from the court case nevertheless seem to at the very least suggest a management team that's OK making poor business decisions.

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Source Fool.com