Wix.com Stock Drops 31% Amid Disappointing Q1 Results and Analyst Downgrades
Wix.com's stock fell by 31% in a week due to disappointing first-quarter results and several analyst downgrades. The company reported revenue of $541 million, up 14%, but GAAP profitability dropped significantly from nearly $94 million to under $42.5 million.
Tickers: $WIX