PayPal Soars, Square Gains With Focus on Latest Trends
- PayPal up 13% as Morgan Stanley says ‘April really took off’
- Square rises about 9%, though loan loss provision disappoints
A customer uses a Square device to make a payment.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Shares of PayPal Holdings Inc. rallied as much as 13%, reaching a record high in early trading on Thursday, with analysts zeroing in on the payments company’s strong April trends and growth in electronic transactions across the board.
Square Inc. rose as much as 8.6% to the highest since early March, as it benefited from some of that, too. But worries about credit and its small-and-medium sized business market factored in as well.