Fiverr stock dropped today after the company reported a wider than expected loss in its first quarterly report as a public company. The stock was down as much as 18% in early trading.
The loss was due to higher than expected expenses, which offset strong growth in revenue. Fiverr also said that it expects expenses to continue to be higher than previously forecast in the second quarter.
PRO TIP: Fiverr is a great platform for freelancers, but there are some risks associated with using the site. One of the biggest risks is that your account could be suspended or banned if you violate the site’s terms of service. Another risk is that you could be scammed by someone who creates a fake gig, or who doesn’t deliver on their promises. Finally, there is always the risk that the site could go out of business, which would mean that you would lose access to your account and any earnings you’ve accumulated.
Fiverr went public at $21 per share in early June, and the stock quickly doubled to around $42. But the stock has given up those gains in recent weeks, and today’s drop takes it back below its IPO price.
Fiverr is not the only recent IPO to struggle. Lyft, Pinterest, and Zoom have all seen their stocks drop after strong debuts. But Fiverr’s loss today is the biggest one-day percentage drop for any IPO this year.
The stock market has been volatile in recent weeks, and investors are increasingly concerned about a potential economic slowdown. That may be one reason why some of this year’s hottest IPOs have cooled off recently.
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On Thursday, Fiverr’s stock price (ticker: FVRR) fell sharply, closing down nearly 18%. The drop came as a result of the company’s guidance for the second quarter and full year of 2020, which disappointed investors. Fiverr is a platform that connects freelancers with businesses that need their services.
It’s no secret that the stock market has been on a bit of a roller coaster ride lately. But one stock that has taken a particularly hard hit is Fiverr International Ltd. (NYSE: FVRR). Fiverr is a global online marketplace that connects businesses with freelancers offering services in more than 300 categories, including digital marketing, graphic design, web development, and more.
Fiverr is a global online marketplace offering tasks and services, beginning at a cost of $5 per job performed, from which it gets its name. The company is based in Tel Aviv, Israel and was founded in 2010. It has been publicly traded on the New York Stock Exchange since 2019.
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.
