Why Fiserv Stock Has Tumbled 11% So Far This Week
As of yesterday's close, shares of Fiserv (NASDAQ: FISV) are down nearly 11% so far this week, according to data provided by S&P Global Market Intelligence. The provider of payments and financial services technology reported third-quarter earnings that beat analyst expectations, but included the announcement that it had lost a major customer that impacted North American processing volumes by 500 basis points in the quarter.
Fiserv's stock suffered its worst single-day loss since the start of the pandemic, losing 9% on the day. It was only surpassed by the 11% loss incurred on March 18, 2020.
Image source: Getty Images.
Source Fool.com
