PayPal (PYPL) Launches PYUSD & Wayfair (W) Could See Profit Acceleration, Sales Growth

PayPal (PYPL) launches U.S. Dollar Stablecoin PayPal USD (PYUSD). Its Ethereum-based token will soon be available to U.S. users. The users will be able to transfer PYUSD between PayPal and supported external wallets. PYUSD is 100% backed by USD deposits, short-term U.S. treasuries, and similar cash equivalents. Jenny Horne discusses this, as well as how Wayfair (W) was upgraded to buy from neutral at UBS. UBS raised W's price target to $100 from $72 and says that low valuation doesn't price in "favorable" set up. The analyst sees the company as "just on the cusp" of a multi-quarter period of sales growth and profit acceleration. Tune in to find out more about the stock market today.