Israeli fintech company Pagaya Technologies (Nasdaq: PGY) has been listed on Wall Street for less than a month, after completing its SPAC merger, during which it has seen volatile trading. Yesterday the share price soared 130% to $6.20, giving a market cap of $4.2 billion, after having fallen steeply in its opening weeks of trading. Despite the huge rise, Pagaya's share price is still 50% down on when it began trading on June 23. There was no obvious reason for yesterday's sharp rise on 200 times the average day's trading amounts, other than speculation that short traders were realizing their positions. RELATED ARTICLES Pagaya plunges 67% in first week's trading Pagaya completes SPAC merger at $8.5b valuation Pagya provides solutions based on machine learning and big data that allow financial institutions to more accurately manage credit allocation procedures. Pagaya was founded in 2016 by CEO Gal Krubiner, CRO Yahav Yulzari, and CTO Avital Pardo. Published by Globes, Israel business news - en.globes.co.il - on July 21 2022. © Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
