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In an interview on CNBC with Scott Wapner, Leon Cooperman spoke about his investment in MONITISE PLC (OTC: MONIF). He still likes the stock and he hasn't sold a single share despite the huge decline.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Cooperman said that everyone that has taken a look at the technology this company uses was interested in using its engine to pilot or promote its mobile offering. He is not concerned by Visa Inc's (NYSE: V) desire to sell its stake in MONITISE because its core business is in annual subscriber fees, which should grow to 200 million subscribers by June 2018, from current 30 million subscribers. He even offered to buy the stake from Visa but the company refused to sell at these prices.
Cooperman added that MONITISE is in the high growth business and the only question is if its product is better than the other available products. He is confident that it is because International Business Machines Corp. and Banco Santander, S.A. (ADR) think so. Cooperman believes that Apple Inc. won't get 100 percent of the market and that its focus will be in consumer retail market while MONITISE will get the banking segment of the market.