What's Going On With PayPal Stock Monday?

PayPal Holdings Inc 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.

See Also: Black Friday Sales Surge, Despite Economic Uncertainties — Here Are The Stocks That Stand To Benefit The Most

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.