Globe & Mail 11:18 AM EST, 12/10/2021 (MT Newswires) -- Nuvei (NVEI.TO, NVEI) said Friday that it has expanded local acquiring services to support merchants in the United Arab Emirates and North Africa.
The company's stock fell 3.3% on last look on Friday.
This comes after the company was up 7% in after-hours Nasdaq trading on Thursday after falling 40% during the day as the company on Wednesday said it is reaffirming its 2021 outlook and long-term growth targets as it denounced a short-seller's report it said "is intentionally misleading and draws inaccurate conclusions, innuendo and character attacks on key executives, among numerous other issues."
The payments-system company said the report made personal attacks on its executives that "appear to have been made to distract from the company's achievements and progress".
Short-selling firm Spruce Capital criticized the company's management and questioned its acquisitions in a report released Wednesday, BNN Bloomberg reported.
"The company urges investors to not make decisions based on the short seller report and to review public filings for material information that pertains to its business," it said in a release.
Price: 74.30, Change: -3.29, Percent Change: -4.24