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Here's Why BigCommerce's Stock Is Plummeting Today

TheMotleyFool

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Here's Why BigCommerce's Stock Is Plummeting Today

Shares of BigCommerce Holdings (NASDAQ: BIGC) were falling today after a handful of analysts initiated coverage of the company, with some of them saying the company's share price may be overvalued right now.

As a result, BigCommerce's share price fell by as much as 19.8% in morning trading. As of 11:51 a.m. EDT, the company's share price was down 16.4%.

Morgan Stanley analyst Stan Zlotsky initiated coverage of BigCommerce today with an underweight rating and price target of $52. Zlotsky said the rating was "all about the valuation, not the opportunity," but investors reacted negatively to Zlotsky's report and drove down BigCommerce's stock.

Source Fool.com

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