PayPal hits reset, but stock slides as the ‘existential question' lingers

PayPal Holdings Inc. hit the reset button once again, and its shares were tumbling in Thursday’s premarket trading as some on Wall Street continued to express skepticism about the ease of the company’s turnaround. Despite “bold efforts” by management in the middle of the quarter “to rejuvenate a story which many investors had abandoned,” Wells Fargo analyst Andrew Bauch said that PayPal’s PYPL, -0.74% latest results and outlook were “more likely to vindicate the perma-bears and leave the want-to-be-bulls in ...