Benzinga | Oct 21, 2021 12:10PM EDT

Why PayPal Shares Are Falling

Paypal Holdings Inc (NASDAQ:PYPL) shares are trading lower following a Bloomberg report titled 'PayPal Exploring a Purchase of Social Media Firm Pinterest.'

Bloomberg reported: "San Jose, California-based PayPal has recently approached Pinterest about a potential deal, the people said, asking not to be identified because the talks are private. The companies have discussed a potential price of around $70 a share, which would value Pinterest at roughly $39 billion, one of the people said."

PayPal provides electronic payment solutions to merchants and consumers, with a focus on online transactions.

PayPal has a 52-week high of $310.16 and a 52-week low of $174.81.