On February 12th, 2020, Fiverr International Ltd. (NYSE: FVRR) announced that it had priced its initial public offering of 36,364,545 ordinary shares at a price to the public of $21.00 per share. The shares began trading on the New York Stock Exchange on February 13th, 2020.
Fiverr International Ltd. is a company that provides a platform for freelancers to offer their services to customers worldwide. The company was founded in 2010 and is headquartered in Tel Aviv, Israel.
Fiverr International Ltd.’s IPO comes after a period of strong growth for the company. In the nine months ended September 30th, 2019, Fiverr’s revenue grew 58% to $67.7 million compared to the same period in 2018.
The company’s IPO was underwritten by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BofA Merrill Lynch, and Barclays Capital Inc., among others.
(https://www.fool.com/investing/2020/02/17/why-did-fiverr-international-drop-11-on-its-second.)
Fiverr International’s stock dropped 11% on its second day of trading on the New York Stock Exchange (NYSE). The stock closed at $18.60 per share on February 14th, 2020.
PRO TIP: Fiverr International has dropped due to concerns about the company’s business practices. Specifically, the company has been accused of offering services that are not up to par with those of other companies, and of not providing adequate customer service. In addition, there have been reports that Fiverr International has been slow to pay its freelancers. As a result, we recommend that you proceed with caution if you are considering using Fiverr International’s services.
There are several possible reasons for the stock’s decline:
1) It is not uncommon for stocks to drop after their IPO due to increased scrutiny from investors and analysts. 2) Fiverr International may have been overvalued by investors before its IPO.
3) The company may be facing increased competition from other freelancer platforms such as UpWork and Freelancer.com. 4) Concerns about the global economy may have led investors to sell stocks across the board, including Fiverr International’s stock.
It is difficult to say definitively why Fiverr International’s stock dropped on its second day of trading. However, it is likely that a combination of factors contributed to the decline.
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The stock price of Fiverr dropped today due to concerns over the company’s ability to continue to grow its business. Fiverr has been growing rapidly in recent years, but the company has not been able to keep up with the growth. The company has been facing increasing competition from other online marketplaces, and it has been struggling to keep up with the demand for its services.
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Fiverr (NYSE: FVRR) stock is down today, after the company announced its fourth quarter and full year results. For the fourth quarter, Fiverr reported revenue of $66.7 million, which was up 58% year-over-year and beat the analyst consensus estimate of $61.5 million. The company’s net loss for the quarter was $7.8 million, or $0.16 per share, which was also better than the analyst consensus estimate of $0.24 per share.
Fiverr is a website that allows users to find and hire freelance professionals to do tasks or services. The website has a marketplace where users can find and hire professionals to do a wide variety of tasks. The website has been growing rapidly in recent years, and has been profitable since its inception.
