FTCV

FinTech Acquisition Corp V

Finance/Real Estate, TMT, SPAC


Presented:04/19/2021
Price:11.62
Cap:$0.46B
Current Price:$10.06
Cap:N/A

Presented

Date04/19/2021
Price11.62
Market Cap$0.46B
Ent Value$0.46B
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/S25.64M
Ave Daily Vol1,928,816
Short Int3.77%

Current

Price$10.06
Market CapN/A
FinTech Acquisition Corp. V operates as a blank check company. The firm seeks to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, with one or more businesses. The company was founded on April 22, 2019 and is headquartered in Philadelphia, PA.

Publicly traded companies mentioned herein: Fintech Acquisition Corp V (FTCV), Nasdaq Inc (NDAQ)

Highlights

The presenter is short Fintech Acquisition Corp V (FTCV), which is merging with the online trading platform eToro in a ~$10B deal. The transaction is expected to close sometime in the third quarter and the combined company will operate as eToro Group Ltd. and list on the Nasdaq. The presenter characterizes eToro as a bad contract for difference (CFD) business, which he comps to other CFD players and therefore suggests should trade at 10x earnings. Instead, it trades at ~130x 2022 EBITDA, which has been driven by the jump in retail trading. As people return to work and retail trading falls off, he believes this is a business that is 90% overvalued. 

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Idea Discussion

Commentor 1 - 2 weeks ago

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