The Fintech giant Paypal took a huge hit today. Paypal offers a service that people can use when making online purchases as an alternative to credit or debit cards. It also offers some credit cards. Paypal stock got hit badly today, as it tanked 24%. This was its worst day in the stock market ever. Paypal beat estimates for it’s revenue in the 4th quarter of last year, but it completely missed the targets in other categories. Paypal also took this hit because 4.5 million illegitimate accounts joined the platform, so they are false accounts. Companies sometimes get users to make accounts by offering perks, and the accounts are not used.
