I consider the PayPal announcement and sell off a bit of a furphy. from a technical perspective there was a high risk of a sell off, and the announcement tipped the scales in favour of bears today. still got a bit more to go to find out if this will turn real ugly, or find support above the SMA. Z1P IMO the least affected by the news; with a great mix of bricks and mortar, business, merchant products, and flexibility meaning not head to head with PayPal even if they go get it up and running.
And it is an 'if'. PayPal are not only competing with other products, they will be cannibalising their own lucrative products moving to BNPL. In my experience, companies can really struggle with this, always looking for ways to drive business back to 'the good times', and the shift ends up half-hearted at best.
one thing's for sure; this week will continue to be interesting ....
all IMO of course
I consider the PayPal announcement and sell off a bit of a...
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