Shares of PayPal (NASDAQ: PYPL) continued to struggle in the first half of 2023, missing out on the rally in tech stocks as investors worried that it was losing market share to Apple and that growth in its core business was slowing. Additionally, CEO Dan Schulman said he would step down at the end of the year and the company has yet to name a replacement. 

According to data from S&P Global Market Intelligence, the stock fell 6% in the first six months of the year, significantly lagging the S 500, which gained 15.9%. 

As you can see from the chart below, PayPal was actually outperforming the broad-market index early in the year, but fell sharply after it reported first-quarter earnings in early May.

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Source Fool.com