PayPal (PYPL) stock is down nearly 4% in 2024, as the fintech company missed out on the H1 stock market rally. The stock has closed in the red for three consecutive years, and has been squarely out of favor with markets. However, PYPL now looks like a no-brainer value stock that could recover in the back half of the year, as we’ll discuss in this article.
PayPal shares peaked above $300 in mid-2021, and since then, investors haven’t had much to cheer about. PYPL fell to multi-year lows in 2023, despite a broad-based rally in tech shares, and now trades at a fraction of its all-time highs.
