Going Bargain Hunting? PayPal Is the Best Beaten-Down Stock to Buy in 2024, but Only If You Believe 1 Thing.

Thanks to the remarkable performance of the so-called "Magnificent Seven" stocks, it seems like the major market indexes continue to hit fresh all-time highs with each passing day. Investors might struggle to find attractive buying opportunities when bullish sentiment prevails.Not all companies have rallied amid market enthusiasm. Just look at PayPal (PYPL 1.39%). Shares of the digital payments pioneer are down 81% from their peak price. In 2023, they dipped 14%, as the Nasdaq Composite index surged 43%.Des ...