Luxor Capital Group, a major owner of FinTech Acquisition Group V (FTCV), recently added to their stake with a 63,904 share buy. The buy increased the firm’s stake by 1.8 percent and came to a total price of $761,000.
That follows on a number of other buys in the month of June, adding nearly 500,000 shares in total by the fund. One other major holder has also been a buyer since the company went public, with no insider sales.
FinTech Acquisition Group V is a SPAC, or special purpose acquisition company. It’s currently planning on buying eToro, a stock and cryptocurrency brokerage company.
- Stock Caught Trading Under Secret Name...
It trades under a secret name... for just under $5.
But thanks to a developing situation that could create nearly 50,000 American jobs and $10 billion in facilities... this may soon be the most talked about stock in America
SPAC companies go public at $10 per share, then can vary depending on how a perceived merger is going. With shares around $12 and insiders buying, there’s some indication that the deal is going through and will be a reasonable one for investors.
Action to take: Investors may like shares, although once the deal is completed, the company will become eToro and trade based on how eToro’s business goes.
Given the rising number of cryptocurrency investors and a crypto price market that has been trading flat for several weeks but could potentially move higher, shares look poised to move higher. Traders may like the November $15 calls. Last going for about $0.90, the calls can offer high double to low-triple-digit growth on a rally in shares.
Disclosure: The author of this article has no position in the company mentioned here, but may make a trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.