Benzinga | Dec 8, 2020 01:21PM EST

Why Foley Trasimene Acquisition's Stock Is Trading Higher Today

Foley Trasimene Acquisition Corp (NYSE:BFT) shares are trading higher on Tuesday after payments platform Paysafe went public through a reverse merger with the blank check company.

Related: Paysafe Goes Public Again In SPAC Deal: What Investors Should Know

Foley Trasimene Acquisition Corp's business purpose is mergers and acquisitions in several industries with an initial focus on financial technology or business process outsourcing which are core to the economy.

Foley Trasimene Acquisition shares were trading up 6.81% at $12.71 at the time of publication. The stock has a 52-week high of $13.77 and a 52-week low of $9.60.