New trends emerge in the stock markets quite frequently and one of the categories of stocks to have come into sharp focus in recent times is SPACs or special purpose acquisition companies. Investors looking for value in such stocks could have a look at the Foley Trasimene Acquisition II stock (NYSE: BFT).
The SPAC is all set to take the payment processing company Paysafe public by way of a merger. The merger date is nearing and that could bring the Foley Trasimene stock into play in the coming days.
Paysafe is one of the better-known payment processors in the world. It is the owner of globally renowned brands like Neteller and Skrill among others. It is a large business and handles payments of around $100 million on a global scale. Since the announcement of the merger was made, the Foley Trasimene stock has soared by as high as 50% and it remains to be seen if the stock can continue to add to its gains in the coming days.
Finance and Tech Contributor