Paypal Close To Dropping Through $50!
Apple's foray into the payment industry is impacting PayPal's stock price, causing concern among investors. Analysts are closely monitoring PayPal's third-quarter earnings report to assess the company's current standing and future prospects. Despite projected earnings of $1.16 per share, PayPal's stock has been struggling, experiencing a 32% drop since the beginning of the year, despite positive earnings reports.
So far this year, the stock has declined by 28%, with a 13% drop in October alone. This downward trend raises doubts about PayPal's ability to recover, especially since it lacks strong historical support levels. While the stock may find some support around the $50 mark, a significant rebound is necessary for a complete recovery. In fact, to reach its all-time high, the stock would need to surge by a staggering 505%.
Another significant obstacle is surpassing last year's low of $66. The upcoming third-quarter earnings report, scheduled for release on November 1st, will be crucial in determining PayPal's near-term outlook and its ability to navigate the challenges within the industry.
So far this year, the stock has declined by 28%, with a 13% drop in October alone. This downward trend raises doubts about PayPal's ability to recover, especially since it lacks strong historical support levels. While the stock may find some support around the $50 mark, a significant rebound is necessary for a complete recovery. In fact, to reach its all-time high, the stock would need to surge by a staggering 505%.
Another significant obstacle is surpassing last year's low of $66. The upcoming third-quarter earnings report, scheduled for release on November 1st, will be crucial in determining PayPal's near-term outlook and its ability to navigate the challenges within the industry.
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