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Why PayPal Stock Is on Fire

PayPal has had one of the hottest stocks in the entire tech sector in 2017. CEO Dan Schulman tells TheStreet what the stock market may be betting on.

PayPal (PYPL) - Get PayPal Holdings Inc Report has had one heck of a year.

Shares of the digital payments company have surged 61% this year, blowing away Facebook (FB) - Get Facebook, Inc. Class A Report , Apple (AAPL) - Get Apple Inc. (AAPL) Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report . After TheStreet talked with PayPal CEO Dan Schulman at length, you can see why Wall Street has embraced the stock. PayPal is really reinventing itself.

The company is striking new deals to open up its platform to others such as Facebook and Baidu (BIDU) - Get Baidu, Inc. Sponsored ADR Class A Report .

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"I think digital payments is in its infancy right now, and what I think the market is looking for are pure plays in what is unfolding in the future," Schulman explained to TheStreet.

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