Should You Buy Adyen Stock While It's 50% Below Its All-Time High?
Is the Dutch digital payments company still a great growth stock?
Adyen (OTC: ADYE.Y) gained a lot of attention in 2018 when eBay (NASDAQ: EBAY) chose the Dutch payment processor to replace PayPal (NASDAQ: PYPL) as its preferred payment platform. That transition, which lasted through 2023, generated strong tailwinds for Adyen and rough headwinds for PayPal.
The bulls initially embraced Adyen, and its over-the-counter (OTC) shares closed at a split-adjusted high of $32.74 on Aug. 24, 2021. But today, it trades more than 50% below that level at about $16. It lost its luster as its growth cooled off in a tougher macro environment, and rising interest rates compressed its valuations. So, does Adyen's stock represent a buying opportunity at these levels?
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