Shares of PayPal Holdings saw an increase in trading before an upcoming preview event, following a strong performance last week.
In early trading on Monday, PayPal stock climbed 1.7% to reach $66.90. This upward trend has continued for three consecutive days, resulting in a total increase of 12.6% since Friday’s close.
Anticipation for Innovation
Investors are likely responding to the news of an upcoming event scheduled for Thursday, January 25th at 12:30 p.m. Eastern Time. The event promises to provide a sneak peek at the innovative projects that PayPal and Venmo are planning to bring to the market in the coming year.
Leadership and Growth
Leading the presentation will be President and CEO Alex Chriss, who assumed his role on September 27th. Since then, PayPal shares have delivered a strong return of 15%, outperforming the S&P 500, which achieved a return of 14%.
PayPal has faced challenges in recent years due to disappointing earnings and competition from Apple Pay. Wall Street analysts are unsure of the company’s best strategy to compete in the evolving transaction space. Suggestions range from integrating Venmo and PayPal into a single app to developing a global digital wallet ahead of potential competitors like Elon Musk’s X project. Alternatively, some analysts believe that focusing on enhancing the core PayPal button displayed on website checkout pages could be the key.
Insightful Event Ahead
With the upcoming preview event, investors are hopeful that it will shed light on PayPal’s future direction and help address concerns about competition.