Summary
- Virtus Investment Partners initiated a position in Adyen (ADYEY) on near-term stock weakness related to market concerns regarding near-term online spending trends.
- Adyen processes billions of transactions annually, representing over $1 trillion in volume, with customer attrition below 1% of total payment volume.
- Key risks we are monitoring include the potential effect of stablecoins on the global payment system as well the impact from tariffs and the end of the de minimis exemption in the U.S.
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