PayPal stock is skyrocketing after Stripe and a private equity firm reportedly made a buyout offer

Stripe, one of the biggest players in fintech, may see the acquisition as a way to move into areas where PayPal dominates, such as peer-to-peer transactions. Shares in PayPal Holdings (Nasdaq: PYPL) are skyrocketing in premarket trading this morning after a report that the legacy digital payments platform has received a joint buyout offer from one of today’s most successful fintech companies and a major private equity firm. Here’s what you need to know.