Why Q2 Holdings Stock Plunged This Week
Week to date, shares of Q2 Holdings (NYSE: QTWO) were down 24.7% as of 1:20 p.m. ET on Friday, according to data provided by S&P Global Market Intelligence. The fintech company previously received takeover interest from private equity firms, but the market correction has caused demand for software and fintech businesses to evaporate.
Earlier this week, Q2 Holdings reportedly put on hold its plan to solicit offers after bids came in too low. Year to date, the stock is down 50%, along with those of other leading fintech companies.
For patient shareholders, this might be good news, since it allows investors to benefit from the eventual recovery in sentiment for the sector once the market correction comes to an end. In the first quarter, Q2 Holdings reported revenue growth of 15% year over year, representing a sequential increase of 1% over the fourth quarter.
Source Fool.com
