With a YTD gain of only around 4.4%, PayPal (PYPL) is underperforming the S&P 500 Index ($SPX) in 2024. That said, the stock’s underperformance is not limited to 2024, and it has closed in the red in the previous three years – completely missed out on the rally in tech stocks. PayPal has lost three-fourths of its market cap over the last three years, and fell to multi-year lows last year before rebounding slightly. In this article, we’ll discuss why PYPL stock has been underperforming so badly, and whether it should consider initiating a dividend now. Why Is PYPL Stock Underperforming?PayPal’s…