As Election Day 2020 faded into history, Americans breathed a huge sigh of relief. Not because President Donald Trump won or because Democratic challenger Joe Biden won (we actually don’t know who won yet), but because it’s over. And now Americans can get back to what Americans do best: excessive discretionary spending.
Perhaps anticipating a wave of consumer spending now that the election is over, and with Thanksgiving — and Black Friday — on the horizon, investors turned their interests to the stocks of MasterCard (NYSE:MA), Shopify (NYSE:SHOP), and PayPal (NASDAQ:PYPL) on Wednesday. As of 10:45 a.m. EST, MasterCard stock is up a strong 4.1%, Shopify stock 4.4%, and PayPal 5.7%.
Now, it’s a bit curious that out of these three stocks, PayPal is the one that’s performing best today. Despite the company beating earnings on Monday, PayPal stock fell