NVEI Fraud report

https://www.businesswire.com/news/home/20211208005594/en/Spr…

FYI in case anyone had a NVEI position. This is a very damaging report. I closed position right away.

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Wow! I was lucky to sold out NUVEI at $115 USD on Nov 09 right after earning because huge revenue deceleration. Dodged a bullet. It was 20% position too! Avoided a huge loss! I was holding the Canadian dollar ticker and could’t sell pre-hour. I sold short the USD ticker pre hour so I locked in the pre hour price and closed out both USD and CAD ticker when market opened. Nice move huh? I acted quick because what I learned from this board: If thesis changed, sell as fast as possible. If I didn’t learned from this board, I would likely wait and hope!

Nuvei has substantial revenue from gambling business. Gambling is a shady business. If a business deals with shady business, it’s likely a shady business and CEO is likely shady too. If there’s smoke, there’s fire.
Lesson learend. I am glad I didn’t suffer 50% loss on a 20% position.

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