A word to the wise: be wary of rivals

The Times

Wise offers a service that’s widely appreciated, in increasing demand, profitable and better than the competition. In many ways, it ticks all the right boxes.

The share price, however, tells a different story. The money transfer platform is worth about 25 per cent less than when it debuted on the London Stock Exchange in 2021. This underperformance serves as a reminder that IPO valuations are often too frothy and that investing in growth stocks can be a bumpy ride.

Wise’s main selling point has always been making it quicker, more transparent and cheaper for people and businesses to move money around the world. An obsession with keeping prices as low as possible has won it lots of business and scared investors, some of which are