The new CEO, Alex Chriss, is expected to focus on SMBs and in-store payments to try and stage a turnaround) has been in a sustained downward spiral for over two years now. The declining trend shows no signs of abating and is approaching another crucial support level.
The primary reason for this sharp descent was a significant drop in net profits that began in the second half of 2021, following a pandemic-induced payment volume surge. Additionally, fierce competition, led by Apple Pay, has intensified the challenges in the electronic payments market, further pressuring share prices.
The newly appointed CEO, Alex Chriss, is expected to unveil a recovery strategy during the upcoming quarterly results announcement, potentially heralding a return to the company's glory days.Alex Chriss was officially announced as PayPal's new CEO a month ago. It is widely anticipated that his tenure will focus primarily on the small and medium-sized business sector, aligning with his previous experience.