When PayPal (PYPL) broke below the critical $60 support line, it entered cheaper levels. Investors should consider the fintech after it hired a new CEO.
Alex Chriss previously ran Intuit’s (INTU) small business and self-employed group. He will bring his expertise in managing entrepreneur customers to PayPal. By bringing fresh views to PayPal’s management, it could change the fortunes of PYPL stock, which traded as high as $100.63.
Investors dumped shares of Ford (F) after it traded at around $15. Cost risks are rising after the UAW considered at least 40% in pay increases in a four-year contract. That would include a generous 20% increase in wages from the start. Ford, GM (GM), and Stelantis (STLA) cannot afford to pay that much. The auto industry thrived during the pandemic due to supply constraints causing a shortage. Today, inflation and threats of a recession will hurt automotive demand.
In a downtrend for the year, CVS Health (CVS) fell by 10% last week. Blue Shield of California will drop CVS Health’s Caremark as its pharmacy benefit manager (“PBM”). This is a setback for CVS. Cigna (CI) fell in sympathy. Value investors may consider accumulating CVS, Cigna, and UnitedHealth (UNH).
