Is It Wise to Invest in This Beaten-Down Fintech IPO?
The recent past has not been kind to financial technology and IPO stocks. In the last 12 months, the Renaissance IPO ETF (NYSEMKT: IPO) has been underperforming the S&P 500 by almost 50%, and the S&P 500 is down over 10% in the same time period.
One stock that has gotten hit badly by this sell-off is London-based fintech Wise (LSE: WISE). The stock price for this global remittance and foreign exchange platform is down nearly 68% since its IPO a little less than a year ago, potentially providing a buying opportunity for long-term investors.
Is it wise (pun intended) to invest in beaten-down IPO Wise right now? Let's take a look.
Source Fool.com
