PayPal’s Outgoing CEO Dan Schulman Buys Up Stock

PayPal


Holdings stock has lost all of its gains from the pandemic era, when homebound shoppers used its services to buy online. The financial-services company’s outgoing president and CEO Dan Schulman just bought $2 million worth of its stock.

PayPal stock (ticker: PYPL) soared to as high as $310.16 in late July 2021. Shares now trade in the $70 range—even lower than the intraday lows of 2019, which were in the $80s. PayPal had foreseen the drop in demand as the Covid-19 pandemic subsided, but none of its actions could help the stock hold the line. A push into cryptocurrencies last year was ill-timed, as Bitcoin and other cyptos slumped. PayPal bought buy-now-pay-later firm Paidy for $2.7 billion in late 2021, but in general that type of business has a cloudy outlook in the face of rising interest rates. Meanwhile, continuing supply-chain disruptions, exacerbated by Russia’s invasion of Ukraine, is another factor hurting e-commerce sales.