Fortune

Coin

<ul class="news-points"> 
 <li><strong>PayPal’s incoming CEO announcement has resulted in a drop in stock prices.</strong></li> 
 <li><strong>The stocks are currently trading below $60 after falling 3% in value.</strong></li> 
 <li><strong>Speculation about PayPal CEO Schulam’s successor caused a valuation drop of nearly $300 billion.</strong></li> 
</ul> 
<p>Paypal’s stock prices have been impacted negatively after a recent announcement about its incoming CEO, a Fortune Crypto article reported. This news comes after Dan Schulman, PayPal’s CEO for almost 10 years, decided to <a href="https://newsroom.paypal-corp.com/2023-02-09-President-and-CEO-Dan-Schulman-Announces-Intention-to-Retire-from-PayPal-at-Year-End" target="_blank" rel="noopener noreferrer nofollow">step down</a> by the end of 2023. As a result, the company’s valuation plummeted to $300 billion, followed by speculation regarding its success.</p> 
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   <p lang="en" dir="ltr">Today, PayPal announced Alex Chriss will be the company’s next President and CEO effective Sep. 27, 2023. Chriss joins PayPal from Intuit where he was the Executive Vice President and General Manager of Intuit’s Small Business and Self-Employed Group. <a href="https://t.co/ZheRXKQXBr" target="_blank" rel="noopener noreferrer nofollow">https://t.co/ZheRXKQXBr</a></p>— PayPal News (@PayPalNews) <a href="https://twitter.com/PayPalNews/status/1691105430418665472?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 14, 2023</a> 
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<p>However, the market is not too optimistic about Schulman’s successor, Alex Chriss, as PayPal’s stock fell over 3%, <a href="https://www.nasdaq.com/market-activity/stocks/pypl" target="_blank" rel="noopener noreferrer nofollow">dropping to $59</a> at the time of writing. According to PayPal’s press release, Crhiss carried out a $12 billion acquisi…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/paypals-incoming-ceo-announcement-triggers-3-fall-in-stock-prices/">PayPal’s Incoming CEO Announcement Triggers 3% Fall in Stock Prices</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

PayPal’s Incoming CEO Announcement Triggers 3% Fall in Stock Prices

Coin Edition

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