After 65% Decline, What’s Next for Paysafe Stock?
December 09 2021 - 08:48AM
TipRanks
Paysafe (NYSE:PSFE) stock has witnessed immense selling over the
past six months. As investors dumped its stock, Paysafe lost over
65% in value and hit a new 52-week low of $3.18. The massive
drop in the shares of this payments platform provider reflects the
weakness in its digital wallet segment that accounted for about 24%
of its total revenues in Q3. Paysafe’s digital wallet segment
is taking a hit from new regulations and customer pricing that
proved counterproductive. During the Q3 conference call,
management stated that Germany (one of its key markets) imposed a
cap on single-person betting amounts.
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Paysafe (NYSE:PSFE)
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Paysafe (NYSE:PSFE)
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