"You get what you pay for" often applies to expensive stocks with best-in-class business models and execution.
While their quality can sometimes justify the premium, they typically experience elevated volatility during market downturns when expectations change.
Dan Loeb's Third Point portfolio had mixed earnings results this week, with decreased stakes in Cinemark and Corpay, and an acquisition of AvidXchange.
Corpay, Inc. to acquire AvidXchange for $2.2 billion in cash, reflecting a 22% increase over recent stock price and a 16% premium over 90-day average trading price.
The company has reportedly been working with advisor Financial Technology Partners to consider options after receiving offers over the past few months.
