Nuvei falls after short-seller's 'strong sell'

Nuvei

18/04/2023 15:24

** U.S.-listed shares of Canadian payments tech co Nuvei
Corp  NVEI.O  down 2.4% at $41.43, while TSX-listed shares
 NVEI.TO  fall 2.5% to C$55.54
    ** Spruce Point Capital Management issues "strong sell",
says expects 35%-50% long-term downside risk to stock
    ** "Our favorite short is $NVEI" - Spruce Point tweets 
    ** Hollywood star Ryan Reynolds on Monday disclosed
investment in NVEI  urn:newsml:reuters.com:*:nGNE2vyfXL 
    ** Nuvei did not immediately respond to Reuters' request for
comment
    ** Nuvei hid full extent of its digital and crypto exposure,
"had an FTX partnership and reportedly also an FTX equity
interest" - Spruce Point 
    ** Says "Nuvei's $1.3 billion levered acquisition of Paya
Holdings appears troubled from numerous angles" 
    ** As of last close, U.S.-listed shares of NVEI up ~63% YTD 

 (Reporting by Vansh Agarwal in Bengaluru)
 ((Vansh.Agarwal@thomsonreuters.com;))