Shares of PayPal up 5 percent in first day of trading on Nasdaq under PYPL ticker

Markets Associated Press

PayPal shares are up 5 percent in its first day as a separate and publicly traded company.

Continue Reading Below

The payments system company officially split with eBay Inc. on Friday, 10 months after they announced that they were going their separate ways.

PayPal processed $235 billion in total payment volume last year and logged revenue of about $8 billion. It plans to grow market share in mobile and online payments as well as expanding in areas like in-store payments.

Trading on the Nasdaq Stock Exchange under the stock ticker "PYPL," shares jumped $2.14 to $40.40 on Monday.

Shares of eBay, based in San Jose, California, are down 13 cents to $27.77.