Payoneer: Strong Start
After completing the business combination with the FTAC Olympus SPAC back at the end of June, (PAYO) just reported a strong first quarterly report as a public company. Unfortunately, the market overly stressed on some of the normalization numbers. My investment thesis remains very Bullish on the stock below $10, as the payments company continues to show promising long-term growth prospects in excess of 20%.
Read the full article on Seeking Alpha.
Disclosure: Long PAYO. Pleaser review the disclaimer page for more details.
Update - August 26
The downtrend on Payoneer appears broken and a breakout appears imminent. PAYO just needs to close above $10.25 and the stock off to the races, finally!