FINX - Here's Why PayPal Stock Fell 18% in June
Shares of PayPal Holdings (NASDAQ: PYPL) fell 18% in June, according to data provided by S&P Global Market Intelligence . The stock's movements completely correlated with the moves of other financial-technology (fintech) stocks during the month, showing that investors aren't interested in stocks like PayPal right now. The things that the company announced didn't matter, even though they should.
Investors can look to exchange-traded funds (ETFs) to get an idea about how the market feels for an entire sector. For the fintech sector , you could look at The Global X FinTech ETF (NASDAQ: FINX) , in which PayPal stock has a nearly 6% allocation. As the chart shows, PayPal stock completely mirrored the movements of The Global X FinTech ETF, showing investors' disdain for all things fintech in June.
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Here's Why PayPal Stock Fell 18% in June