PayPal Stock Drops 20%, Sheds $10 Billion in Market Cap

PayPal Holdings, Inc. (NYSE:PYPL) stock plunged more than 20% Tuesday, following a triple threat of bad news: a surprise CEO shake-up, an earnings miss and a weak outlook for the year ahead.PYPL stock dumped Tuesday. See the chart and price action here. Here is the breakdown of what happened and the executives' commentary on the situation: Surprise Leadership Shake-upThe biggest shock was the immediate departure of CEO Alex Chriss, who had only been in the role since late 2023. Miller spoke to the surprise ...