Why Lightspeed Commerce Stock Dropped on Thursday

Lightspeed Commerce (NYSE: LSPD) shareholders lost ground to the market on Thursday. The e-commerce platform's stock dropped 14% by 12:30 p.m. ET, compared to a 0.6% increase in the S 500. The move pushed returns into negative territory so far in 2023, while the broader market is up 9%.

The slump came as investors processed Lightspeed's latest earnings results and its outlook for the new fiscal year ahead.

Lightspeed's sales rose 27% in the fiscal Q4 period that ended in late March, according to a premarket filing. This result put full-year sales at the low end of management's prior outlook and reflected weakening sales volumes for many of its retail customers.

Source Fool.com