Jim Cramer’s Latest Lightning Rounds: 15 Stocks to Watch

9. Joint Stock Company Kaspi.kz (NASDAQ:KSPI)

Number of Hedge Fund Holders: 25

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is a provider of payments, marketplace, and fintech solutions in Kazakhstan. It serves both consumers and merchants. The company facilitates a variety of transactions, including shopping, bill payments, and peer-to-peer transfers. In addition, it offers valuable data insights that help businesses make informed decisions. The company also features travel services, allowing customers to book flights and holidays seamlessly. When asked about the company, Cramer said:

“This is fintech. It’s a good company. I prefer, right now, I’ve been watching PayPal. I think it’s a similar business, and I think a better value.”

A significant portion of Kaspi.kz (NASDAQ:KSPI) revenue, 99.6%, is generated within Kazakhstan, with a small remainder coming from operations in Azerbaijan and Ukraine.

In response to a recent research report by Culper Research, the company issued a statement expressing that the report misrepresents its business. The company highlighted its position as the first from Kazakhstan to successfully list on the Nasdaq, noting that this visibility has attracted attention from short sellers.

On September 20, TheFly reported that JPMorgan acknowledged concerns raised in the report regarding the company’s exposure to Russia. The firm also mentioned that many issues discussed were already known to investors, including the migration of Russian immigrants to Kazakhstan.

JPMorgan plans to conduct further diligence on the report while maintaining an Overweight rating on Kaspi.kz (NASDAQ:KSPI), suggesting that concerns surrounding the report may linger as a potential overhang on the stock.