PayPal's Path To Redemption: Will It Break Above The 52-Week High And Recover From This Year's Dramatic 68% Decline?
Portfolio Pulse from Zaheer Anwari
PayPal's stock has experienced a significant decline, dropping 78% from $310 to $67 between July 2021 and June 2022. The stock is currently trading at $58, close to the crucial $50 support level. Adding to investor concerns, PayPal has paused cryptocurrency purchases for UK users until early 2024 in cooperation with The Financial Conduct Authority (FCA), which could induce more fluctuations in its stock price.
August 18, 2023 | 5:44 pm
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PayPal's stock has seen a significant decline and is now trading close to a crucial support level. The company's decision to pause crypto purchases in the UK could further impact the stock price.
The significant decline in PayPal's stock price, coupled with the company's decision to pause cryptocurrency purchases in the UK, could lead to further downward pressure on the stock. The $50 level is a crucial psychological support, and if the stock price falls below this level, it could trigger further selling.
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