I continue to shop for battered technology stocks that are growing and display compelling valuations. An area that has seen stocks correct by more than 50% from their highs is the electronic payment space.
Some investors believe that the reopening of the economy could reduce the demand for online and contactless payments. But in reality, the electronic payment market is massive and rapidly growing.
While the electronic payment sector is dominated by major technology stocks, there are many smaller players with potential. Consider Paysafe Ltd (NYSE:PSFE), which has plummeted by 82% from its 52-week high of $17.96 (set in February 2021) and which established a low of $3.03 on January 24, 2022.
The selling of Paysafe stock has been excessive, especially since the company has been improving its fundamentals.
Discover more about PSFE stock here
The post Paysafe Ltd: Beaten-Down Payment Stock Could Rally by 400% appeared first on Profit Confidential.