Bank of America downgrades fintech company PayPal (PYPL) and restaurant software developer Toast (TSOT) stocks from "Buy" to "Neutral." Bank of America Senior Equity Research Analyst Jason Kupferberg joins Yahoo Finance Live to comment on the payment industry and buy now, pay later space. "Now let's look forward to 2024 — what can possibly get this sector out of its rut?" Kupferberg asks. "Number one, greater visibility on forward estimates in 2024, and along with that what we're talking about is really increased confidence in a soft landing scenario. Now, that's the base case that Bank of America's economists are calling for." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The stock market has rebounded significantly after a tumultuous year in 2022. Today the S&P 500 is within 5% of its all-time high. Fintech company PayPal (NASDAQ: PYPL) hasn't gotten the memo. The stock remains in the gutter, roughly 80% down from its high two years ago and still within a stone's throw of its 52-week low.
Fool.com contributor Parkev Tatevosian discusses what the move between PayPal's (NASDAQ: PYPL) Venmo and Amazon (NASDAQ: AMZN) could mean for PayPal stock investors. *Stock prices used were the afternoon prices of Dec.