Nuvei stock skyrockets on potential buyout deal
Nuvei (NVEI) shares surge by over 30% as a Wall Street Journal report revealed the company is nearing a buyout deal with Advent International. While some financial firms have looked down upon the company's position, it has gained the backing of Hollywood star Ryan Reynolds.
Yahoo Finance Anchors Madison Mills and Josh Lipton break down the latest development for Nuvei and what it could mean for the company moving forward.
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Editor's note: This article was written by Nicholas Jacobino
Video Transcript
MADISON MILLS: We're going to move on to a final pic here shares of nuvei surging as it reportedly nears a buyout deal. Ryan Reynolds backed payments processor is in advanced, talks with Advent International. That is according to reporting from the Wall Street Journal and shares of this company were up over 32%. Yeah. Nearing 33% here in the afternoon. That is the highest ever intraday increase after these reports on a potential deal.
Now we have had reports about a deal in the past. But it does seem like they are nearing a potential buyout deal here. So getting a little bit of that clarity clearly a good move for this name today.
JOSH LIPTON: Yeah. I mean, Ryan Reynolds might like this company but some really don't. I mean, you saw short sellers have published tough reports on this company. No question. Its financial transparency. And it has been a rough going. I mean, it's a big surge today. It's higher now for this year. But it's still down about 30% over the past 12 months. Though most on the street are actually bullish. If you look at financial analysts who cover this name maybe in part because they expected a headline like this.
MADISON MILLS: It's interesting when you see an acquisition doing well for a name that-- it depends on the pricing.
JOSH LIPTON: Usually you want a short Ryan Reynolds. I mean, come on.
MADISON MILLS: OK.
JOSH LIPTON: Is that the move?
