Benzinga - by Adam Eckert, Benzinga Staff Writer.
PayPal Holdings Inc (NASDAQ: PYPL) shares are trading higher Monday. The stock appears to be seeing increased attention on the back of elevated Cyber Monday expectations.
What To Know: Cyber Monday online sales are expected to be better than initially expected and reach record levels of $12 billion to $12.4 billion, according to Reuters, citing data from Adobe Analytics.
Sales are now expected to jump 8% year-over-year, which is above Adobe's initial forecast for an increase of 6.1%.
"Buy Now, Pay Later" is also expected to see all-time high usage on Cyber Monday and contribute $782 million in online spending, representing an 18% increase year-over-year, according to Benzinga Pro.
PayPal provides electronic payment solutions to merchants and consumers with a focus on online transactions.
PYPL Price Action: PayPal shares were up 0.82% at $56.22 at the time of writing, according to Benzinga Pro.
Photo: courtesy of PayPal.
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