Stock Market Today, Aug. 28: PayPal Falls 13% After Stripe and Advent Abandon $50B Takeover
Shares plunged 12.71% on Friday as the reported acquisition pursuit collapsed, removing deal premium support, today, Aug. 28, 2026.
Overview
PayPal Holdings (NASDAQ:PYPL), a digital payments and consumer/merchant transaction platform, closed at $53.66, down 12.71%. Shares fell after reports Stripe and Advent abandoned their reported roughly $50 billion takeover pursuit; investors are watching turnaround execution. Trading volume reached 35.9M shares, coming in about 124% above its three-month average of 16.0M shares. PayPal Holdings IPO'd in 2015 and has grown 46% since going public.
The S&P 500 (SNPINDEX:^GSPC) fell 0.27% to 7,710, while The Nasdaq Composite (NASDAQINDEX:^IXIC) lost 0.52% to 26,402. Among global payments and digital financial technology peers, Fiserv closed at $53.18, up 1.14%, after its earlier-this-month guidance cut underscored margin pressure in the group.
Details
When Advent International and Stripe initially teamed up to make a $53 billion bid for PayPal, I said I would understand if investors cashed in, because the deal falling through could cause a significant drop. That's exactly what happened today as Advent and Stripe abandoned their bid, leaving PayPal trading back near its 50-day moving average.
Source
Originally published at www.fool.com.