Wix Expects Growth to Slow to 5-Year Low
Once a highflier, Wix.com (NASDAQ: WIX) has lost its wings. During the pandemic, the software provider saw its business boom as users scrambled to digitize their businesses. But lately, demand for its service has tapered off as global economies reopened.
Investors mostly expected Wix's growth to revert to its pre-pandemic trajectory. Yet they were surprised when Wix guided for just 8% to 10% growth in the second quarter -- even lower than pre-pandemic levels.
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Source Fool.com
