The stock is down 5%, trading around $85 per share on SimpleFX. PayPal has lost almost 10% since Thursday.
PayPal crashes on misinformation rules threatens with the $2,500 fine
The leading online payments solutions provider has updated its use policy and included a controversial rule, including a $2,500 fine for “sending, posting, or publication of any messages, content, or materials” that “promote misinformation.”
Free speech advocates, including PayPay co-founder Elon Musk, have expressed criticism of the new rules. The corporation immediately withdrew the plans to include such a fine and removed it from the user policy, but the damage to the stock had already been done.
Will traders use this asset to bounce back after PayPal crashes on misinformation rules? We’ll see.