PayPal CEO's first year was praised by Wall Street, but hard part starts now for struggling payments company [MSNBC.com]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
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Source: MSNBC.com
In this articleAlex Chriss, CEO of PayPal Inc.Courtesy: PayPalIn January"I love being an underdog," Chriss said in an interview on "Squawk on the Street," from the floor of the New York Stock Exchange. He was responding to a question about a recent spate of analyst downgrades.Dan Dolev of Mizuho Securities was among the skeptics. He cut his rating to the equivalent of a hold on Jan. 16, the day before Chriss' CNBC appearance, headlining his report, "PayPal faces competitive pressure from 'A' to 'Z.'" The A was forAppleZelleA few weeks later, PayPalissued weak guidancePayPal appeared to be in deep trouble. Its market cap was down more than 80% since peaking in mid-2021. The company had justcut 9% of it workforceFast forward to today, and the picture is dramatically brighter for the 26-year-old Silicon Valley company and its 47-year-old CEO.Chriss hit his one-year anniversary at the helm on Friday. In the third quarter, which ended on Monday, PayPal shares jumped 34%, their biggest quar
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