PayPal shares rose over 21% during premarket hours on Wednesday, a day after Stripe and private equity firms Advent reportedly offered to buy the payments giant in a $53 billion deal, or $60.50 per share.
Paypal stock has been facing downward pressure. Share prices have declined 35.8% in the past year. However, famed investor Michael Burry did not let the stock price dictate his investment decision.
