CURN - Plural Investing - Currency Exchange Intl.: Trading Cheap Intrinsic Value Should 3X In 3 Years

2024-05-12 08:15:00 ET

Summary

• Currency Exchange International has gained major market share in the foreign banknotes industry after competitor Travelex exited the US.
• CXI has a strong balance sheet with a large amount of net cash, which it plans to use for share buybacks and potentially acquiring a banknote competitor.
• The company also has the opportunity to grow internationally, as it is one of only three licensed suppliers of US dollar banknotes from the Federal Reserve to banks worldwide.

The following segment was excerpted from this fund letter.

Currency Exchange International ( CXI:CA , OTCPK:CURN )

Currency Exchange International is one of only three major suppliers of foreign banknotes to the United States and of US dollar banknotes internationally. Banknotes are typically used for travel and the Covid induced downturn masked major market share gains made by the company after its key competitor Travelex exited the US....

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