5 Stocks to Watch Today

1. PayPay Corp. (NASDAQ:PAYP)

PayPay soared by 21.16 percent on Monday to close at $24.11 apiece amid strong investor confidence, mirroring a broader market optimism, thanks to positive developments on the global front.

Since it debuted on the Nasdaq on March 12, PayPay Corp. (NASDAQ:PAYP) has already seen its stock price soar by 55 percent from its initial public offering (IPO) price of $16, suggesting strong investor appetite for its stock.

This is partly supported by Macquarie’s issuance of an “outperform” rating last week, saying that the SoftBank-backed financial technology company—being the largest QR payments provider in Japan with 72 million users at present—is positioned to expand beyond digital wallets into the broader financial services such as transfers, savings, lending, and investments, among others.

PayPay Corp. (NASDAQ:PAYP) is a subsidiary of the SoftBank Group, and recently successfully raised  $880 million in fresh funds from the sale of more than 54.98 million American Depositary shares, representing its common shares, during its IPO.

Of the total, more than 31 million shares were offered by the company, while the other 23.9 million shares were sold by its existing shareholder, SVF II Piranha (DE) LLC, an investment fund also controlled by the SoftBank Group.

Shortly after its market debut, PayPay Corp. (NASDAQ:PAYP) expressed its interest in conducting another IPO listing on the Tokyo Stock Exchange. No specific details have yet to be divulged.

While we acknowledge the potential of PAYP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PAYP and that has 100x upside potential, check out our report about the cheapest AI stock.

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