Shares of tech and software companies, including Paypal Holdings Inc (NASDAQ:PYPL), are trading higher as the sector rebounds following recent weakness, which has been driven by a rise in yields.
The U.S. 10 Year Treasury yield has risen sharply over the trailing five sessions, jumping from the 1.49% level on December 31 to 1.73% during today's session. This sharp rise in US Treasury yields has pressured growth sectors. When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.
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PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions.
PayPal has a 52-week high of $310.16 and a 52-week low of $179.15.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.