You may have noticed an unexpected 10% spike on BFT after hours Friday (after it ran as high as 8% higher during regular trading). This spike came from no other than our boy Steve Grasso from Fast Money on CNBC. Steve said, “I like to give you stocks that could double. I think this one could triple.”
Now.. if I had your curiosity and now have your attention, feel free to keep reading below.
BFT is a SPAC. If you’ve been living in a cave and didn’t have internet access to waste your life on WSB, a SPAC is a company created for the sole purpose of taking another company public. It’s a newer technique that has proven to be a much quicker way to get your company a ticker.
The company that will be getting a shinny new ticker is Paysafe. Paysafe is a multinational online payment system. Founded in 1996 and headquartered in London. Their largest marketshare is in Europe and are highly dominate in the gambling industry.
Financials: $1.5 billion in revenue. $468 mil EBITDA profit. Net profit of $142 million.
Customers: Paysafe is attached to very big names, in lots of sectors. Just a few are: Draftkings, Twitch, YouTube, Fortnite, Henri, Spotify, Staida, NH lottery.
Key facts to note:
- Process over $100 billion per year.
- Jacked to the tits on diversification. From a large global presence, to a huge foothold in several key sectors. This has helped them a ton during Corona when so many others have faltered, they have remained steady.
- Actually profitable, which is very rare for SPACS.
- Its major competitors (i.e. PayPal, Square, Venmo etc.) aren’t willing to move into gambling where Paysafe is dominating.
I don’t want to hear any, “Why didn’t you tell me 18 years ago when the stock was a penny. The price went up so it can never go up again”. This baby was just confirmed last week and is just starting to make it on major news networks. You will start to see more than just CNBC talking about it as it’s one of the largest SPACS of the year, and I would challenge any of them to not recommend it as a buy. If we get a huge name to give it a thumbs up we will see a corresponding huge pump during the next open. Big Fucking Titties. 4 rocket ship emojis
Positions: $50k in shares @ an average of $13.62
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.