PayPal, Block And Affirm Shares Are Spiraling Lower Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Fintech stocks PayPal Holdings Inc (NASDAQ:PYPL), Block Inc (NYSE:SQ) and Affirm Holdings Inc (NASDAQ:AFRM) are experiencing a significant drop in their share prices. This is due to a report that French payments company Worldline has cut its guidance due to an economic slowdown affecting sales and profitability. Affirm is also facing additional pressure after being downgraded by Compass Point due to concerns about the macro backdrop and consumer credit.
October 25, 2023 | 4:49 pm
News sentiment analysis
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NEGATIVE IMPACT
Affirm's shares are down due to the economic slowdown, cut guidance from Worldline, and a downgrade by Compass Point.
Affirm's shares are down due to the economic slowdown and cut guidance from Worldline, which is impacting fintech firms that generate revenues from Europe. Additionally, Affirm has been downgraded by Compass Point due to concerns about the macro backdrop and consumer credit.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
PayPal's shares are down due to the economic slowdown and cut guidance from Worldline.
PayPal's shares are down due to the economic slowdown and cut guidance from Worldline, which is impacting fintech firms that generate revenues from Europe.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Block's shares are down due to the economic slowdown and cut guidance from Worldline.
Block's shares are down due to the economic slowdown and cut guidance from Worldline, which is impacting fintech firms that generate revenues from Europe.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80