Wonder what people's thoughts are on this one, always had potential to be volatile and got attacked by shorter's 18 odd months ago. Paul's quote at that time was "I;m backing the truck up and buying heavily" which worked out well.
Fast forward to today and they have been spanked downwards again in relation to an article the company says was written several months ago, Pays have released an rns rubishing the statement and saying trading is in line with expectations.
Is this just a case of mischief making to tie in with a director selling in a month of normally thin volumes and its time to back the truck up once more or is something fishy afoot ?
Thoughts ladies and gentleman please.
Hi Clarea,
A >30% fall in the last month is quite a big fall to be set off by a single, out of date article (although I recall the big Glencore (LON:GLEN) drop this time last year was triggered by an analyst writing a piece to the effect that the equity was "worthless").
At a market cap of c. £2 billion, Paysafe (LON:PAYS) is no small cap tiddler to be knocked over by a bit of idle market chatter, which suggests there might be something more substantive going on in the background to trigger such a change. FYI, I think this was a recent purchase by Robbie Burns/ the Naked Trader, who is usually a pretty shrewd judge so it will be interesting to see his view when he publishes his blog later this week. In the meantime, I am happy to sit this one out until the picture becomes clearer.
Best,
Gus.
p.s. Just had a quick look at the short interest in Paysafe (LON:PAYS) - currently at least 6.5% (only positions of more than 0.5% are disclosable) and has gone up a fair bit in the past week. The sell off may just be the result of such concerted short selling action although in turn it may be the hedgies have sniffed out a substantive problem.
