{"id":2087861,"date":"2023-11-02T11:29:03","date_gmt":"2023-11-02T15:29:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/paypal-stock-surges-as-pledge-to-turn-leaner-keeps-crypto-concerns-at-bay\/"},"modified":"2023-11-02T11:34:02","modified_gmt":"2023-11-02T15:34:02","slug":"paypal-stock-surges-as-pledge-to-turn-leaner-keeps-crypto-concerns-at-bay","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/paypal-stock-surges-as-pledge-to-turn-leaner-keeps-crypto-concerns-at-bay\/","title":{"rendered":"PayPal stock soars as promise to become &#8220;leaner&#8221; eases worries about cryptocurrencies."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpaypal-stock-surges-as-pledge-to-turn-leaner-keeps-crypto-concerns-at-bay%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2087861&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p><strong>November \u20622, 2023 \u2013 1:45 PM UTC<\/strong><\/p>\n<p>(Reuters) \u2013 \u200cPayPal Holdings (PYPL.O) added \u2063nearly $4 billion to its market \u200dvalue after a pledge\u2064 to turn\u2062 \u201cleaner\u201d fired up investors, even as the \u2063payments giant disclosed\u200d a subpoena from the U.S. Securities\u2063 and Exchange Commission tied\u200c to its stablecoin.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The \u200bcompany\u2019s \u2062shares climbed nearly 7% to $55.12 on Thursday as a strong full-year profit forecast \u200dalso calmed market\u200b jitters about a spending slowdown.<\/p>\n<p>\u201cSimply put, our cost base remains too high,\u201d the company\u2019s new CEO, Alex Chriss, said on Wednesday, adding that \u200bPayPal would align its resources to\u2063 its \u200d\u201cmost profitable growth priorities.\u201d<\/p>\n<p>The upbeat forecast\u2064 underscored\u2063 the robustness of consumers\u2019 financial health, which has allowed them to \u2063keep up with their\u2062 spending binge even as the economic climate remains uncertain.<\/p>\n<p>\u201cChriss struck the right note and articulated well the challenges \u200bfacing the company and described a sound framework\u200c for improving growth\u200d and profitability,\u201d J.P.Morgan analyst Tien-tsin Huang said.<\/p>\n<p>Brokerage William \u2064Blair also said it was \u201cencouraged by\u200b management\u2019s\u200d narrowed\u200c focus on profitable growth.\u201d<\/p>\n<p>Shares of PayPal\u2019s peer \u2064Block (SQ.N) also climbed nearly 6%.<\/p>\n<h2 class=\"wp-block-heading\">SEC RAMPS UP PRESSURE ON \u200dCRYPTO<\/h2>\n<p>The\u200c SEC\u2019s subpoena indicates that the regulator \u200bis keeping \u2063up pressure on \u2063the cryptocurrency industry despite recently losing a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/doj-shares-update-on-john-durham-probe-spending\/\" title=\"DOJ Shares Update On John Durham Probe Spending\">high-profile court case<\/a> against \u200cdigital asset manager Grayscale\u2064 Investments.<\/p>\n<p>PayPal said\u2064 it was \u200bcooperating with the subpoena \u2062from the \u2064SEC\u2019s Enforcement Division, \u2062which has asked for the production of \u2062documents.<\/p>\n<p>Stablecoins are crypto tokens whose\u200c monetary value is pegged to a stable asset to protect potential investors from wild swings in prices.<\/p>\n<p>The\u200b company became the first major \u2064financial technology firm\u200d to embrace digital\u200b currencies for payments and transfers when it launched its dollar-backed stablecoin in August.<\/p>\n<p>Separately on Thursday, the company\u200c named insider Archie Deskus its new chief technology officer, just \u200ba day after a naming Jamie Miller its new finance chief.<\/p>\n<p>Reporting by \u200dNiket Nishant\u2063 in Bengaluru; Editing\u2062 by Sriraj Kalluvila and Saumyadeb Chakrabarty<\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t<strong>Share this post!<\/strong>\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Elon\u200d Musk warns about\u200b the machines \u200bat the Global\u200b AI Safety Summit, Donald Trump \u200cJr. takes the\u2063 stand and Chinese cash\u2064 may \u200chave\u200d ended up in\u200c Biden\u2019s bank account.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Conservatives and independents are\u2063 frequent targets of the radical left, and \u200cnow the \u2064Anti-Defamation League is being weaponized to blacklist anyone who doesn\u2019t promote their far-left agenda. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Democrats are exploiting \u2062the tragic shooting in Maine\u2062 in hopes of promoting even more restrictive gun \u2063control \u2062measures. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The Director of\u2063 the F.B.I. warns that the U.S. is facing the\u200b greatest\u2063 terror threat since ISIS. Yet, he says it\u2019s\u200c not time for panic, but to be vigilant.  <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>PayPal added nearly\u2063 $4 billion to its market value after a \u2062pledge\u200b to turn \u201cleaner\u201d fired up\u200d investors.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>China\u2019s\u200c most\u2062 <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/paypal-stock-surges-as-pledge-to-turn-leaner-keeps-crypto-concerns-at-bay\/\" title=\"PayPal stock soars as promise to become \"leaner\" eases worries about cryptocurrencies.\">popular \u2064social media\u2062 platforms announced<\/a> that \u201cself-media\u201d accounts with more than 500,000 followers will be asked to display real-name information<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Intel rose \u200dmore than 9% on Friday and sparked a jump in chip stocks after the personal computer market \u2064was rebounding \u2062from its quarters-long slump.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Amazon.com rose 7% on Friday as it aims for \u2063a larger\u2062 share of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/investigation-continues-into-adam-johnsons-fatal-hockey-incident\/\" title=\"Adam Johnson's fatal hockey incident under investigation.\">booming artificial intelligence \u200cmarket<\/a> in a race\u2062 with Microsoft.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> What factors\u200d contributed to PayPal&#8217;s \u2063increase in market\u2063 value despite the \u2062SEC subpoena?<\/h2>\n<p><span>  PayPal Adds $4 Billion to Market Value with Promise of &#8220;Leaner&#8221; Approach<\/p>\n<p>November 2, 2023 \u2013 1:45 PM UTC (Reuters) \u2013 PayPal Holdings (PYPL.O) saw a significant increase in its market value yesterday, \u200cas it pledged to adopt a leaner\u2064 approach, which \u200cexcited investors. The payments giant&#8217;s stock climbed nearly 7% to $55.12, after it\u200b disclosed a subpoena from the U.S. Securities \u2064and Exchange \u2063Commission (SEC)\u2062 related to its stablecoin.<\/p>\n<p>PayPal&#8217;s commitment\u2064 to become leaner impressed investors, who responded positively to the news. The company added almost $4 billion to its market value, highlighting the confidence shareholders have in PayPal&#8217;s ability to adapt\u200d and grow. Despite the SEC subpoena, \u2064investors\u200c were reassured by the company&#8217;s strong full-year profit forecast, \u200dwhich mitigated\u200d concerns about \u2063a potential spending slowdown.<\/p>\n<p>&#8220;Our cost\u200d base remains too\u200d high,&#8221; said \u200bPayPal&#8217;s newly appointed CEO, Alex Chriss. He \u200cemphasized the company&#8217;s intention to align its resources \u200bwith its most profitable growth priorities, acknowledging the need for financial optimization. Chriss&#8217;s statement resonated with market analysts, who praised his approach to\u2063 addressing\u200b the company&#8217;s challenges.<\/p>\n<p>PayPal&#8217;s upbeat profit forecast indicates that consumers&#8217; financial health remains robust, allowing them to sustain their spending habits\u200c even \u200damidst an uncertain economic climate. J.P.\u2062 Morgan analyst Tien-tsin\u200b Huang \u2062commended Chriss for acknowledging the challenges \u200dahead and presenting a blueprint for achieving growth and profitability. Similarly, brokerage firm William Blair expressed optimism \u2064at the company&#8217;s narrowed focus on profitable\u2062 growth.<\/p>\n<p>As PayPal&#8217;s market \u2064value soared, its peer Block (SQ.N)\u200c also witnessed a significant jump in stock prices,\u2062 with a \u200cnearly 6% increase. \u2063This demonstrates the positive sentiment among investors \u200btowards the overall growth potential of the digital payments industry.<\/p>\n<p>Meanwhile,\u200b the SEC&#8217;s subpoena suggests that the regulatory body continues to exert pressure on the cryptocurrency industry, despite its recent loss in a high-profile court case against Grayscale Investments. PayPal confirmed its cooperation with the\u200b SEC&#8217;s Enforcement Division and their request for\u200c the production of documents. This development showcases\u2062 the ongoing regulatory \u2062scrutiny faced by the\u200c cryptocurrency \u200bsector.<\/p>\n<p>It is worth noting that PayPal stands out as a major financial technology firm that \u200bhas embraced digital currencies for payments and \u2063transfers. \u200dIn August, the company launched its dollar-backed\u2063 stablecoin, becoming a pioneer in the industry. This move underscores PayPal&#8217;s commitment to innovation and its readiness to adapt to the fast-evolving landscape of financial\u2064 technology.<\/p>\n<p>In a separate announcement, PayPal appointed \u2062Archie Deskus, an insider, as its new\u200b Chief Technology Officer. This decision comes just a \u2062day after Jamie \u200cMiller was named\u200d the \u200bnew Chief\u200d Financial Officer. These leadership changes highlight \u2063PayPal&#8217;s efforts to\u200c strengthen its management team\u200c and \u200cposition \u2064the company for \u2063continued success.<\/p>\n<p>In conclusion, PayPal&#8217;s commitment to becoming leaner has garnered significant investor support, reflected in the substantial increase in its market value. The company&#8217;s strong profit forecast, along with the strategic \u2062roadmap outlined by\u200d its CEO, Alex Chriss, has reassured investors\u200c about its growth potential. Despite the regulatory scrutiny faced by the cryptocurrency \u2062industry, PayPal remains at the forefront, embracing digital currencies and\u200c laying the foundation for future success.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 2, 2023, at 1:45 PM UTC, PayPal Holdings (PYPL.O) gained almost $4 billion in market value. Investors were excited about the company&#8217;s commitment to becoming more efficient, despite the disclosure of a subpoena from the U.S. Securities and Exchange Commission related to its stablecoin. The company&#8217;s shares rose by approximately 7%.<\/p>\n","protected":false},"author":1911,"featured_media":2087862,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2087861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2087861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1911"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2087861"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2087861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2087862"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2087861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2087861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2087861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}