Insight – Ryan Reynolds becomes an investor in Nuvei fintech company.

After selling Mint Mobile to wireless giant T-Mobile for $1.35 billion, Hollywood actor Ryan Reynolds announced his next venture as an entrepreneur: Nuvei, a Canadian fintech company. It is not his first investment in the investment/financial niche, as he is also known for his investment in Wealthsimple.

“I know about as much about fintech as I did about gin or mobile a few years ago. But Nuvei is impressive,” Reynolds said Monday.

What's Nuvei Corporation all about?

Nuvei Corporation is a Canadian fintech company publicly traded on Nasdaq and the TSE. The payments technology company accelerates clients’ business worldwide. Hold strong with its motto of “connecting eCommerce businesses with their customers wherever they are in the world and however, they want to pay.”

In addition to offering a wide range of payout options, Nuvei’s modular, flexible, and scalable technology enables leading companies to accept new-generation payments, and offer card issuing, banking, risk, and fraud management services to their customers.

In addition to connecting businesses to their customers in more than 200 markets, Nuvei also provides local acquiring in 47 markets, 150 currencies and 600 alternative payment methods to help customers and partners succeed locally and internationally. With Nuvei, customers and partners can use one integration to succeed locally and globally.

“The leadership team is exceedingly intelligent and hard-working and it’s about time a Canadian company got the type of attention American tech companies do.” – Ryan Renolds.

Nuvei lists on its website sportswear company New Balance, online fast fashion retailer SHEIN, Italian luxury fashion house Dolce and Gabbana, airline Virgin Atlantic, automotive manufacturing company General Motors, and fantasy sports and sports betting company DraftKings among some of its payment partners.

Nuvei might sound foreign to some investors, but the company has been around for decades, having originally been founded as Pivotal Payments back in 2003. The company went public on Nasdaq in 2021 and trades under the ticker NVEI.

Nuvei Corporation - NVEI Stock.

Reynolds’ announcement didn’t send its stock prices skyrocketing, but they are up 66% year-to-date and 50.71% over the last six months. At present, NVEI is trading at $$42.44. The stock traded after hours at 2.03% higher.

A consensus rating of 12 analysts rated the stock as a ‘Strong Buy’ with an average price target of $50.91, indicating an upside trend of 19.96%. Along with a high forecast of $70.00 and a low forecast of $44.00. In terms of technical analysis, the NVEI’s MACD indicator is 1.34, suggesting Nuvei Corp is a Buy as well as Nuvei Corp’s (NVEI) Relative Strength Index (RSI) is 56.75, creating a Neutral as well as NVEI’s Williams % R (14) is -34.55, which suggests NVEI is a Buy. In contrast, NVEI’s RSI is 56.75, creating a Neutral indicator.

Catch the latest ads of Nuvei and Ryan Renolds.

This I assure you… @nuvei will never ever build a rocket. pic.twitter.com/pyVdLSraW8
— Ryan Reynolds (@VancityReynolds) April 17, 2023

References:

Nuvei Q4 2022 and Full Year Report

** Earnings announcement for NVEI: May 9, 2023

The key takeaways/market update is a series by AxeHedge, which serves as an initiative to bring compact and informative In/Visible Talks recaps/takeaways on leading brands and investment events happening around the globe.

Do keep an eye out for our posts by subscribing to our channel and social media.

None of the material above or on our website is to be construed as a solicitation, recommendation or offer to buy or sell any security, financial product or instrument. Investors should carefully consider if the security and/or product is suitable for them in view of their entire investment portfolio. All investing involves risks, including the possible loss of money invested, and past performance does not guarantee future performance.