PayPay Shares Are Popping Higher After the PAYP Stock IPO. Should You Buy the SoftBank-Backed Company Here?

Investors are running to PayPay (PAYP) after its Nasdaq debut on March 12. This follows the digital payment giant’s initial public offering (IPO), which raised about $880 million. PAYP marks the largest U.S. listing by a Japanese firm in over a decade, indicating massive demand for the country’s digital transformation.

Despite significant initial gains, however, there’s reason to believe that it’s not yet too late to invest in PayPay stock, which boasts strong backing from Tokyo-based SoftBank Group (SFTBY).