Nuvei stock (NVEI:NASDAQ) jumped by about 15% on Thursday and remained in green up to the early hours of Friday morning. The surge came a day after the company responded to a short-seller attack terming it to be intentionally misleading.
In the short-seller report, Spruce Point Capital Management had said that the shares of Nuvei could fall by as much as 60%. Spruce Point condemned Nuvei’s management and also questioned its acquisitions terming its financial disclosures as weak.
However, Nuvei released a response at the close of the markets on Wednesday and reaffirmed its financial outlook and its growth prospects that include the goal to increase its revenue by 30%.
To help stock investors interested in investing in Nuvei stock, Invezz has created a brief article on what it is and where to buy it.
To find out more, please continue reading.
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What is Nuvei stock?
Nuvei stock is the stock of Nuvei Corp and trades on the NASDAQ exchange under the symbol NVEI:NASDAQ and on Toronto Stock Exchange under the symbol TSE: NVEI.
Nuvei is an electronic payment processing company that is based in Montreal, Canada. It is the largest private and non-bank payment processor.
The company went public on Sept. 2020 after an initial public offering (IPO) on the Toronto Stock Exchange.
Should I buy the Nuvei stock today?
If you are looking to invest in a stock dip that has high prospects of bouncing back, then Nuvei stock is a good choice.
Nuvei stock price prediction
Nuvei stock has been on the decline since the start of October and analysts believe the bear trend is almost coming to an end. The stock is expected to close the year above $61.
$NVEI social media coverage
The post Nuvei stock surge after the company responds to the short-seller report: here is where to buy the stock appeared first on Invezz.