Paysafe (NYSE: PSFE at https://www.webull.com/quote/nyse-psfe) made its New York Stock Exchange debut yesterday, and investors are taking care. PSFE shares began operating separately after the merger with Foley Trasimene Acquisition II was completed. What do you do now that Paysafe is gaining traction?
To refresh your memory, Foley Trasimene Acquisition II was a special purpose acquisition firm that traded on the NASDAQ under the symbol BFT. It used a reverse merger to get Paysafe public, and now PSFE stock is trading on its own according to nyse psfe.
In December 2020, Paysafe and Foley Trasimene declared their merger.
• In March 2021, shareholders agreed to accept the offer, enabling PSFE to begin trading.
Foley is also the chairman of the board of directors of the company. Paysafe CEO Philip McHugh will remain in his role.
• Paysafe is a multinational payments firm, which investors should be aware of.
• The network reportedly handles $100 billion in payment rate.
• Paysafe claims to be a market pioneer in global e-commerce and iGaming.
• E-commerce now accounts for up to 75% of the company’s sales.
• Investors should be aware that the firm still exists under the Paysafe, Neteller, Skrill, and Paysafecard brands.
Until 2017, Paysafe was listed on the London Stock Exchange.
• It was then taken private by Blackstone (NYSE: BX) and CVC Capital. They continue to own the majority of the stock.
PSFE Stock and the Paysafe SPAC Merger
So, what else can you be aware of when it comes to Paysafe? What else distinguishes PSFE stock on the second day of trading?
The new role of iGaming is something that investors can pay careful attention to. This isn’t the first time, according to McHugh, that clients have had ties to a publicly listed Paysafe. This time, though, the organization is tying itself to iGaming, where it sees real promise. This is because several well-known businesses utilize Paysafe to manage their payments. Paysafe’s clients include DraftKings (NASDAQ: DKNG) and Golden Nugget Online Gaming (NASDAQ: GNOG).
We now recognize that e-commerce payments account for 75% of business income. On the other hand, Paysafe is making inroads into iGaming, which investors can keep an eye on.
There is still some latest news worth noting. The first is that Neteller, a division of PayPal, has recently released a rewards scheme to enable users to use their Neteller digital wallets to make purchases. This follows Bakkt’s unveiling of a wireless wallet, and Paysafe claims that it draws on its previous achievements. Paysafe was also elevated to a stable B1 ranking by Moody’s today. There are many other good stocks like nyse dis which you can check at https://www.webull.com/quote/nyse-dis.