PayPal Holdings Stock Slips 4% As CFO John Rainey Joins Walmart

Shares of PayPal Holdings, Inc. (PYPL) are slipping over 4% on Wednesday morning after the company's Chief Financial Officer John Rainey announced his plans to join retail giant Walmart Inc. (WMT).

PYPL is currently trading at $103.91, down $4.34 or 4.01%, on the Nasdaq. The stock opened its trading at $102.59 after closing previous day's trading at $108.25. The stock has traded between $92.25 and $310.16 in the past 52 weeks period.

After almost seven years at PayPal, Rainey is leaving the company to join Walmart Inc. as its CFO. To support an orderly transition, Rainey will remain at PayPal until late May.

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