“The title has reached our target,” Ben Axler, founder and chief investment officer of the New York-based short seller, told La Presse. He did not disclose when or at what price the firm decided to close its position. Spruce Point did not immediately respond to The Logic’s request for comment. (La Presse)

Talking point: Spruce Point released its first report on the Montreal-based fintech in December 2021, raising concerns about its leadership and transparency around financial disclosures. It published another report in April, one day after Canadian actor Ryan Reynolds announced he was an investor in Nuvei with a series of social media videos. The company did not disclose the terms of Reynolds’ investment. Spruce Point’s report called the move a “timely promotional endorsement especially after we found broken links tying Nuvei to FTX” and that Nuvei’s “investors, bankers, auditors and analysts are mistakenly supporting a troubled company.” Its shares have risen almost 10 per cent year-to-date.