Payoneer Global Inc is trading at $6.32 (5.3% down) in pre-market, pulling back after a significant rally earlier in the week.
- The initial surge was driven by reports on June 9 that Canadian payments firm Nuvei is in advanced talks to acquire Payoneer for about $2.7 billion.
- The stock jumped over 24% on June 9 and another 4% on June 10 following the news.
- Today's downturn appears to be profit-taking as no new developments on the potential deal have been announced.