Market Rebellion co-founder Jon Najarian named PayPal Holdings Inc (NASDAQ:PYPL), MGM Resorts International (NYSE:MGM) and Salesforce.com Inc (NYSE:CRM) his top picks for 2022 on Monday.
PYPL: PayPal is “one of the first movers in digital banking,” Najarian said on CNBC’s “Fast Money Halftime Report.”
There are 383 million individuals using PayPal’s services, and he doesn’t expect that to slow down as the digital banking transformation accelerates.
Najarian also pointed to the addition of PayPal’s Venmo on the Amazon.com Inc (NASDAQ:AMZN) platform as a potential catalyst in 2022.
When EBay Inc (NASDAQ:EBAY) spun off PayPal in 2015, the companies arranged for PayPal to continue processing Ebay’s payments. The deal limited which competitors PayPal could do business with, and that restriction is set to change in 2022.
CRM: As economic acceleration continues, Najarian expects Salesforce to be a “big beneficiary.”
“I just think this one is one of the leaders in the space,” he said.
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MGM: Najarian also mentioned that he likes MGM Resorts as a recovery play, especially as people return to Las Vegas.
Price Action: At publication time, PayPal was up 2.94% at $194.12, Salesforce was down 0.49% at $252.99 and MGM Resorts was up 1.44% at $45.33.
Photo: courtesy of PayPal.