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

Paymentus Holdings Inc. (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 35% in its first post-IPO session Wednesday before giving some of its 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.Seeking Alpha contributor Donovan Jones analyzes the company’s finances here

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