- Nuvei Corp had a sudden fall of 6% after the allegations from Spruce Point Capital Management.
- However, yesterday, Hollywood star Ryan Reynolds announced that he is an investor in Nuvei.
- The announcement of the actor’s interest resulted in a surge of Nuvei’s shares by 1%.
The global payments technology company Nuvei Corp. recovered from its fall that resulted from the allegations raised by the New York-based investment management firm Spruce Point Capital Management. According to the latest reports, the sudden recovery has been rooted in the announcement of the Hollywood star Ryan Reynolds who has revealed that he is an active investor in Nuvei.
Spruce Point Capital Management’s allegation against the payment technology company was that it has been witnessing a long-term downside risk of almost 35% to 50%. Following this, Nuvei’s shares fell roughly by 2%.
However, yesterday, Nuvei updated its official page with the celebrity’s investment in the firm, by posting: “Hollywood actor, producer, and entrepreneur Ryan Reynolds has today announced that he has invested in Canadian fintech company Nuvei Corporation”.
Notably, Reynolds commented that Nuvei was impressive, adding:
I know about as much about fintech as I did about gin or mobile a few years ago. But Nuvei is impressive. 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.
Interestingly, the Nuvei shares that stood at a decline of almost 6% rose almost by 1% immediately after the revelations of Reynolds that he is taking a stake in the company.
Responding to the celebrity’s proclamations, Phil Fayer, the CEO of Nuvei, shared his enthusiasm for including Reynolds in the Nuvei family. He stated:
We’re thrilled to welcome Ryan to the Nuvei family. We’re a global company but extremely proud of our Canadian roots and values, so to have one of the most internationally recognizable Canadians, as well as an entrepreneur with such renowned business acumen, join our investors is a privilege.
Though it’s the second time that Spruce Point Capital has pushed Nuvei into certain losses, the company has managed to present a significant rise from the fall.