Payoneer Global Inc is trading 5.3% down at $6.32 in pre-market, easing as investors lock in profits following a significant rally triggered by acquisition rumors.
- Shares surged more than 30% earlier this week following reports that Canadian payments firm Nuvei is in advanced negotiations to acquire Payoneer Global Inc for approximately $2.7 billion.
- The current downward move reflects a normalization of the share price as the market reassesses the potential transaction after the recent rapid gains.