Yesterday the specialized payments platform operating company Paysafe (NYSE:PSFE) had come on the radars of investors and its stock ended up with gains of 3% for the day.
Trading Data
On Monday, PSFE stock gained 2.87% to $2.51 with more than 7.38 million shares, compared to its average volume of 7.83 million shares. The stock moved within a range of $2.3800 – 2.5350 after opening trade at $2.50.
Recent News
While the decline in the stock was notable, it is perhaps also important to keep in mind that there was no news about Paysafe yesterday and the selloff may have been a bit random. That being said, it may be a good time to keep in mind that last Monday the company had actually made an important announcement and it may be a good time to take a look into it.
At the time Paysafe announced that it had gone into a fresh partnership with the advanced play account management solution operator Strive Gaming. The platform that has been designed by Strive Gaming is meant for serving online gaming operators who need to be careful about the requirements across all the states in the North American market.
As per the provisions of the partnership, the payments technology from Paysafe was integrated into the platform that is operated by Strive Gaming. It was a significant new development for Paysafe and one that could lead to the opening up of similar avenues.
Technical Data
PSFE stock is below the 20-Day and 50-Day Moving averages of $2.59 and $3.01 respectively. Moreover, the stock is trading below the 200-Day moving average of $5.01.
