Benzinga | Aug 30, 2021 02:05PM EDT

Why PayPal's Stock Is Trading Higher Today

PayPal Holdings, Inc. (NASDAQ:PYPL) shares are trading higher on reports the company is exploring a stock trading platform for users.

According to a CNBC report, after rolling out the ability to trade cryptocurrencies last year, PayPal has been exploring ways to let users trade individual stocks.

The report also suggested the move comes amid a retail trading boom that brought millions of new investors into the stock market, along with more regulatory scrutiny for some brokerage firms.

PayPal Holdings, Inc. operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide.

PayPal's stock was trading about 3.4% higher at $287.82 per share on Monday at the time of publication. The stock has a 52-week high of $310.16 and a 52-week low of $171.63.