Should You Buy Adyen Stock After Its 40% Fall?
Adyen (OTC: ADYE.Y) (OTC: ADYY.F) vis one of the most important companies in fintech, but few people know about it. Adyen's products facilitate global payment processing and compete with products offered by Stripe and PayPal (NASDAQ: PYPL). Among its client list are heavyweights like Uber, Microsoft, and Etsy, but a key declining metric spooked investors after it reported the first half of 2023 results (Dutch companies are only required to report twice a year).
As a result, the stock tumbled nearly 40% the next day. But is this a knee-jerk reaction, or is there something to this fall? Let's find out.
The primary concern with Adyen's report was its declining payment volume growth. In the first half of 2023, it was up 23% year over year. This marks a significant slowdown compared to the 49% rise in the second half of 2022.
Source Fool.com