Payoneer: On Track For A Big 2021
As SPACs fall out of favor, an attractive business combination such as the deal for (FTOC, FTOCU) to combine with Payoneer is even more appealing now. The global payments market has decades of growth ahead as more companies move to digital payments and the existing companies grow. My investment thesis is even more bullish as investors can acquire the digital payments leader for the same price as major institutions.
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Disclosure: Long PAYO. Please review the disclaimer page for more details.
Update - July 1
A few days after closing the SPAC deal, Bear Cave has come out with a short report suggesting Payoneer works in the "high risk" payments area. The very fact they have a long-history suggests the category isn't so risky. The stock below $10 is an incredible deal as investors get stock cheaper than Betsy Cohen.