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Why BigCommerce Stock Slumped Today

TheMotleyFool

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Why BigCommerce Stock Slumped TodayPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Shares of BigCommerce (NASDAQ: BIGC) sank on Thursday after the e-commerce software provider reported its second-quarter results. While it beat analyst expectations across the board, some red flags along with a lofty valuation gave investors plenty of reasons to push down the stock. Shares were down around 6.8% at 11:40 a.m. EDT today after being down as much as 12% earlier in the day.

BigCommerce reported second-quarter revenue of $36.3 million, up 33% year over year and about $700,000 higher than the average analyst estimate. The total annual revenue run-rate rose 32% to $151.8 million.

Image source: Getty Images.

Source Fool.com

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