Square and PayPal Are Getting New CEOs. What It Means for Their Stocks.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Both payment companies have been struggling in a post-Covid world.

It’s a time of upheaval for payment companies PayPal and Square—and an opportunity for patient investors.

Unlike what Tolstoy said about unhappy families, unhappy stocks are often alike. The onset of the pandemic led to a surge in e-commerce and contactless payments—areas where PayPal and Block operate—and aspirations well beyond their core competencies. At PayPal, there were plans for a “super-app,” offering payments, online shopping, savings, and other tools all in a closed ecosystem.

PayPal shares gained 2.8% on Aug 14 when Chriss was announced as CEO, while Block shares tumbled 2.2% on Sept 19, following news of Dorsey taking the role. But despite the mixed stock reaction, the consensus on The Street appears the same: change takes time.On Block, Lisa Ellis, analyst at MoffettNathanson acknowledges that Henry’s exit is “a likely negative indicator” for the health of the Square business but she still remains optimistic about Block.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: DoorDash, Arm, PayPal and moreThese are the stocks making headlines in premarket trading Monday.
Source: CNBC - 🏆 12. / 72 Read more »