PYPL fell nearly 25% in a single day for the first time this year on 2 February, after the company announced financial results for the fourth quarter of the fiscal year 2021. PayPal (PYPL) technical analysisĪ PayPal stock analysis by Trading View showed PayPal’s closing price on 26 October was nearly 71.3% below its all-time high closing price of $308.53 a share, achieved on 23 July 2021. This article examines whether other factors have affected PYPL’s ongoing downtrend, the latest stock news and PayPal’s share price forecast from analysts. However, it recorded a weekly gain of 4.97%, outperforming the Nasdaq, which rose by 2.92% in one week, according to TradingView. As a result, it has dropped more than 53% year to date ( YTD) and declined nearly 64.5% year over year ( YoY ), lagging the Nasdaq index ( US100 ), which has fallen 30.4% this year and 26.96% YoY.Īt the time of writing (27 October), PayPal’s stock dropped 0.77% to $88.55 at close on 26 October.
The headwinds have continued to pressure the PYPL stock price, erasing a 116.5% gain in 2020 when the pandemic hit. The ongoing Russia-Ukraine war has raised the prices for food and energy, exacerbated inflation and prompted investors to dump growth stocks, especially in technology companies. Soaring inflation – which briefly hit the highest level in four decades in the US – has forced consumers to cut spending. The end of Covid-19 restrictions in most countries has seen less online shopping and a reduction in the need for digital payment. PayPal is operating in a market where tech growth stocks are being dumped – Photo: rafapress / Īs 2022 draws to a close, the stock price of payment giant PayPal ( PYPL ) has yet to reverse its downtrend.
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