Bank of America downgrades fintech company PayPal (PYPL) and restaurant software developer Toast (TSOT) stocks from "Buy" to "Neutral." Bank of America Senior Equity Research Analyst Jason Kupferberg joins Yahoo Finance Live to comment on the payment industry and buy now, pay later space. "Now let's look forward to 2024 — what can possibly get this sector out of its rut?" Kupferberg asks. "Number one, greater visibility on forward estimates in 2024, and along with that what we're talking about is really increased confidence in a soft landing scenario. Now, that's the base case that Bank of America's economists are calling for." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
In good economic times and bad, people’s self-control to spend within their means on gifts during the holiday season flies out the window. For decades, credit cards bore the brunt of compulsive holiday spending habits. But increasingly, they’re sharing the spotlight with Buy Now, Pay Later companies.
This company stands to benefit from the surge in buy now, pay later usage during the holiday shopping week.