Why PayPal Shares Are Rising

Shares of tech and software companies, including Paypal Holdings Inc PYPL, are trading higher as the sector rebounds following recent weakness, which has been driven by a rise in yields.

The U.S. 10 Year Treasury yield has risen sharply over the trailing five sessions, jumping from the 1.49% level on December 31 to 1.73% during today's session. This sharp rise in US Treasury yields has pressured growth sectors. When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.

See Also: What's Going On With Walgreens Shares Today?

PayPal was spun off from eBay in 2015 and provides electronic payment solutions to merchants and consumers, with a focus on online transactions.

PayPal has a 52-week high of $310.16 and a 52-week low of $179.15.