It started Wednesday when the French payments company Worldline slashed its full-year financial guidance, warning of an economic slowdown in Europe. Shares of PayPal Holdings and Block dropped 5.1% and 8% that day.
“I believe today’s decline is related to a few things: The continued Worldline hangover, fear of more consumer slowing AND competitive threats from Apple as it gets bigger in the buy-now-pay later space…. All three are hurting the payment space near-term,” Daniel O’Regan, a managing director at Mizuho Secuirites told Barron’s via email on Friday.
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