A day after news broke that Hollywood actor and investor Ryan Reynolds would become a shareholder of Nuvei, Montreal techno is once again embarrassed by a short seller.
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Basically, Spruce Point Capital accuses Nuvei of not having said everything about its links with cryptocurrency and of having had an agreement with the FTX platform, targeted by the authorities.
“We believe Nuvei is under extreme business and financial pressure,” Spruce Point Capital argues.
“His announcement that accomplished actor Ryan Reynolds has made an ‘investment’ in Nuvei was a timely promotional endorsement, especially after we found broken ties linking Nuvei to FTX.”
second attack
This isn’t the first time Spruce Point Capital has gone after Nuvei.
In December 2021, the New York firm pointed the finger at Nuvei, saying it was worried about what it described as “false biographical statements by management, questionable acquisitions, exposure to high-risk sectors” .
As of Dec. 31, 2022, the Caisse de depot et placement du Quebec (CDPQ) held an investment worth $500 million to $1 billion in Nuvei, according to its additional information released Tuesday.
On Tuesday, Nuvei did not respond to questions from the Log.