Shares of the international paypal payment system collapsed by 12.2 percent – from 229.42 to 2015 dollars per piece – during the trading on the NASDAQ exchange on November 9. According to the results of the main trading session, the paper slightly corrected, raising the price of 205.42 dollars.
The reason for the fall was the publishing of the forecast for the next year, writes CNBC. The company announced disappointing sales assessments, fearing the decline in consumer spending.
PAYPAL CEO Dan Schulman predicted revenue growth by 18 percent, up to 30 billion dollars, although Refinitiv analysts were calculated by 31.6 billion. “We see the negative impact of the crisis of the global supply chain,” said Schulman. He suggested that after removing coronavirus restrictions, people would prefer to buy festive gifts in stores, and not through the Internet.
Fall has become the most significant for the company since March 16, 2020, when rigid antique restrictions were introduced in the United States. But then Coronavirus helped the company – paper rose more in price due to the increase in the popularity of electronic payments during a pandemic.
At the end of October, Bloomberg reported that PayPal plans to acquire Pinterest photo hosting for $ 45 billion. After a few days, the payment system has denied the information.