The market sell-off didn't stop these wealthy investors from buying shares of three popular stocks in the second quarter.
Payment processing is a lucrative business. PayPal (NASDAQ: PYPL) was one of the first digital payment processors and has risen to become the go-to system for many consumers. Investors may wonder if PayPal is still a good investment in the payments space and if there are better ones out there.
A broad cross-section of stocks charged sharply higher on Wednesday, as Wall Street focused on Treasury yields and foreign government moves to settle unrest in the financial markets. Shares of e-commerce kingpin Shopify (NYSE: SHOP) rose as much as 5.5%, digital payments denizen PayPal (NASDAQ: PYPL) jumped as much as 6.9%, and Latin American e-commerce and fintech leader MercadoLibre (NASDAQ: MELI) surged as much as 8.3%. Positive developments in the unfolding saga involving the British pound and a spike in U.S. Treasury yields provided the catalyst.