Paymentus Holdings (PAY)

[JohnCM]

Paymentus stock rallies to post-IPO high as fintech firm gains 45%+ in just three sessions

May 28, 2021 6:30 PM ET
By: Jerry Kronenberg
SA News Editor

Paymentus Holdings Inc. (NYSE:PAY) rallied for the second session in three days Friday, taking the fintech’s stock up more than 45% from its IPO price in less than a week.

PAY rose to a record $31.81 intraday high Friday before pulling back some to close at a post-IPO high of $30.50, up 8.9% on the day and 45.2% above its $21-a-share initial public offering price. Paymentus had already soared 36.2% in its first post-IPO session Wednesday before giving some of the gains back Thursday.

PAY’s platform helps landlords, utilities, auto-loan providers and other businesses electronically bill customers and accept instant payments. Its system is tied in with popular payments platforms like Amazon Pay and PayPal. Consumers can also pay bills with cash or plastic at more than 4,000 Walmart locations.