PayPal’s stock (NASDAQ: PYPL) has risen by 5.7% over the last five trading days. In comparison, the broader S&P500 has risen by 2.4% over the last five trading days. The stock rose after the company announced on March 30, the launch of “Checkout with Crypto” which will allow users to pay with cryptocurrencies. Now, the users holding Bitcoin, Ethereum, and Litecoin will be able to instantly convert their cryptocurrencies into U.S. dollars at checkouts to make purchases through PayPal. But will the company resume its upward trajectory over the coming weeks, or is a fall in the stock imminent? According to the Trefis Machine Learning Engine, which identifies trends in a company’s stock price using 20 years of historical stock data, returns for PayPal’s stock average around 5% in the next one-month (twenty-one trading days) period after experiencing a 5.7% rise in a week (five trading days). Further, the stock is likely to outperform S&P500 returns by 2.8% over the next month (twenty-one trading days).
But how would these numbers change if you are interested in holding PayPal’s stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine to test PayPal’s stock chances of a rise after a fall. You can test the chance of recovery over different time intervals of a quarter, month, or even just one day!
Credit: Forbes
Source :
https://www.forbes.com/sites/greatspeculations/2021/04/09/will-paypal-stock-grow-after-its-launch-of-crypto-checkout-service/