Why Riskified Stock Cratered More Than 50% in November
Shares of Riskified (NYSE: RSKD) cratered 50.9% in November, according to data provided by S&P Global Market Intelligence. Most of this plunge came after the company reported earnings results for the third quarter of 2021.
Riskified's customers are e-commerce companies, and they use its software to increase sales while decreasing fraud. In the third quarter, revenue grew 26% year over year to $52.5 million, which was ahead of many analysts' expectations. Moreover, the company raised its full-year revenue guidance from $225.4 million on the high end to a range of $226.2 million to $227.2 million.
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Source Fool.com
