PayPal's Stock Crash Has Buyers Circling the Payments Giant
PayPal's 46% stock plunge has potential acquirers eyeing a takeover of the $38.4B payments company.
PayPal is in play. The digital payments heavyweight is drawing takeover interest after its stock cratered roughly 46% over the past 12 months, according to Bloomberg.
That brutal slide has shrunk PayPal's market cap to approximately $38.4 billion — a number that apparently looks like a bargain to potential suitors.
Bloomberg's sources say multiple buyers have shown interest, though specifics on who's circling remain unclear. For a company that once commanded a far heftier valuation, the current price tag represents a dramatic fall from grace.
PayPal pioneered digital payments and still processes enormous transaction volumes. But increased competition from Apple Pay, Stripe, and a wave of fintech upstarts has hammered investor confidence.
A deal at this scale would rank among the largest fintech acquisitions ever. Whether any suitor pulls the trigger remains to be seen.