PayPal's $880M Volume Plunges 34.96% to 127th in U.S. Liquidity Rankings Regulatory Scrutiny Market Shifts Weigh on Fintech Giant

PayPal Holdings (PYPL) closed 0.79% lower on Sept. 22, 2025, . stocks by liquidity, . The move followed a mixed regulatory environment and evolving market dynamics for digital payment platforms.

Recent developments highlight growing scrutiny over cross-border transaction fees and compliance costs, which have weighed on investor sentiment across the fintech sector. Analysts noted that PayPal’s exposure to regulatory shifts in the EU’s and U.S. state-level remains a key risk factor. Despite these challenges, , driven by expanding merchant solutions, provided partial offset to near-term concerns.

Market participants are closely monitoring PayPal’s strategic pivot toward embedded finance partnerships, including recent collaborations with and e-commerce platforms. These initiatives aim to diversify revenue streams beyond traditional payment processing, though execution risks and competitive pressures from Square and Adyen persist. Institutional buying activity has remained muted, .

To run this back-test I need to pin down a few practical details so the calculation matches what you have in mind and fits within the back-testing engine’s capabilities: 1. Market universe • Should the “top 500 by trading-volume” be drawn from U.S. listed equities (NYSE + NASDAQ), or another exchange/universe? 2. Weighting method • Equal-weight across the 500 names each day (typical), or volume-weighted / market-cap-weighted? 3. Execution price assumption • Buy at today’s close and sell at tomorrow’s close (close-to-close), or buy next-day open and exit same-day close? 4. Practical note on tool limits • The built-in back-test engine operates on one ticker (or an index) at a time. – To replicate a 500-stock daily-rotating portfolio we have two options: a) Construct an equal-weight index of the “Top-500-by-volume” each day (I can build this virtually and feed it to the engine); or b) Back-test a proxy such as an ETF or benchmark you specify. • Option (a) is feasible but will take a bit longer to compile the daily index series from 2022-01-01 to today. Let me know: • Which market universe to use, • Your preferred weighting, • Close-to-close vs. open-to-close execution, and • Whether you’re happy with me constructing the virtual “Top-500-Volume” index for the back-test.