Down 67% in This Bear Market, Can Global-e Stock Recover in 2023?
Shares of Global-e Online (NASDAQ: GLBE) have lost 67% of their value since the bear market started, according to data provided by S&P Global Market Intelligence. Unprofitable tech stocks have borne the brunt of the bear market, making Global-e a prime candidate for negative investor sentiment.
Global-e is a business-to-business e-commerce company that provides cross-border shipping solutions for global retailers. It has been posting incredible growth since its initial public offering in May 2021.
In the 2022 third quarter, revenue increased 79% year over year to $105.6 million. It only moved $621 million in gross merchandise volume (GMV), a 77% increase over last year, but a drop in the bucket compared to its potential.
Source Fool.com
