PayPal stock crashed nearly 18% in pre-market trading after payment giants Stripe and Advent reportedly walked away from acquiring the company in a deal valued at over $50 billion. This was one of the largest buyout attempts in fintech history. The stock, which had jumped more than 40% this quarter on takeover speculation and better-than-expected quarterly results, now trades around $50.61, down from a $62.73 swing high set just days ago. PayPal’s market capitalization of roughly $52.6 billion now sits close to the withdrawn offer, leaving little to anchor the valuation.
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