Nuvei's Stock Plummets Amidst Short-Seller Reports and Ties with FTX

Nuvei Corp's shares slipped after short seller Spruce Point Capital Management published a negative report, questioning the Canadian payment firm's financial transparency, links with failed crypto platform FTX, and recent acquisition of Paya Holdings. Spruce Point, which is short the stock, cited the potential for a 35% to 50% drop in value. This comes after Hollywood actor Ryan Reynolds announced he's an investor in Nuvei, but Spruce Point's founder questioned whether any money exchanged hands or if Reynolds was instead given restricted stock in return for his work.