Down 74% From Its High, Is Riskified Stock a Smart Buy Now?
Riskified (NYSE: RSKD) went public in July 2021 at $21 a share, and the stock price shot up to $40.48 in September. Since then, things have gone poorly, to say the least. General weakness in the tech sector caused the share price to fall through October, then disappointing third-quarter results sparked a cataclysmic sell-off in November. As a result, Riskified stock currently trades 74% below its all-time high.
Of course, volatility should be expected in growth stocks, especially those of the unprofitable persuasion. In fact, some of today's most successful companies have seen their stocks suffer worse sell-offs. For instance, Amazon's share price fell 90% between December 1999 and April 2001. Then again, that happened during a devastating market crash.
So, here's the question: Is Riskified a smart investment right now, or is this fintech company in trouble? Let's take a look.
Source Fool.com
