Why PayPal Stock Rose 15% in November

Shares of PayPal (NASDAQ: PYPL) jumped 15% last month, according to data provided by S&P Global Market Intelligence, following the digital payment leader's strong third-quarter results.  

PayPal's total payment volume surged 38% year over year to $247 billion, as shoppers flocked to e-commerce sites during the coronavirus crisis. More than 15 million people created new PayPal accounts during the third quarter, bringing the fintech giant's total customer account base to 361 million by the end of the period.

The COVID-19 crisis is accelerating the trend away from cash and toward digital transactions. Image source: Getty Images.

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Source Fool.com