Sun Apr 13 00:30:00 UTC 2025: **PayPal Launches Massive Sweepstakes Amid Stock Slump**
SAN JOSE, CA – PayPal Holdings (PYPL) launched a $10 million sweepstakes Thursday, aiming to boost its online checkout service. The promotion, featuring comedian Will Ferrell, will award 1,000 daily winners for 100 days, covering purchases up to $100. Despite the marketing push, PayPal stock fell over 6%, extending its 29% decline in 2025. The drop mirrors a broader fintech downturn linked to President Trump’s tariffs and concerns over a potential recession. Competitor Affirm Holdings (AFRM) also suffered, with a 10% drop. The slump comes as PayPal seeks to double its buy now, pay later (BNPL) business to nearly $60 billion in transaction volume within three years. Meanwhile, concerns about losing market share to Apple and the paused Klarna IPO further add to the uncertainty surrounding the company. PayPal’s first-quarter earnings are expected on April 29th.
First Piper 