Jim Cramer Says "I Was Surprised By the News From PayPal"

PayPal Holdings, Inc. (NASDAQ:PYPL) is one of the stocks Jim Cramer recently talked about. Cramer highlighted the negative effects of tariffs on the company, as he remarked:

“It’s entirely possible that the negative effects are one-time only and will go away as we get more trade deals, but right now, we’re in the thick of it. You know what? It just doesn’t feel good, and honestly, it’s hard to dismiss them… [as] one-off when even fintech giant PayPal revealed slower growth in payments, blaming tariff fears.

The Chief Financial Officer, Jamie Miller, said, and I quote, ‘We observed a slight softening in retail spending in the US, most apparent in areas likely impacted by tariffs.’ After all the robust consumer spending we saw when the banks reported two weeks ago, I was surprised by the news from PayPal, so was the market, with the stock falling more than 8%. I say ouch.”

PayPal (NASDAQ:PYPL) operates a digital payments platform that facilitates online and in-person transactions, fund transfers, and withdrawals.

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Disclosure: None. This article is originally published at Insider Monkey.