After hitting new heights during the pandemic, PayPal has struggled in the market. Here's what's killing the company's stock growth

"As the lockdowns subsided, people went back to in-person spending," explained Gabriele. "Some people, believe it or not, even went back to cash."

And while PayPal's total payment volume has seen continuous gains, its stock growth has slowed, with rising competition in the digital-payment space being a major contributing factor. "There's a positive and a negative to the fact that PayPal is so focused on e-commerce," said Brett Horn, an analyst at Morningstar. "The positive, obviously, is that it's a high growth area and that benefits them over time. The negative is that that's where a lot of the fintech innovation is centered around and a lot of the investment is going after that space because it is the highest growth space.

PayPal declined to comment for this report, but during its 2022 third quarter earnings report, CEO Dan Schulman commented that "while there are a number of unknowns regarding the macro environment, we can largely control our spend and its implication on earnings growth."to find out more about how Paypal makes its money and why it has been struggling in recent years.

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