Why Lightspeed Commerce Stock Plummeted 43% in 2021
Shares of Lightspeed Commerce (NYSE: LSPD) plummeted 43.1% in 2021, according to data provided by S&P Global Market Intelligence. And considering the S&P 500 was up 27% for the year, Lightspeed lost to the market by a wide margin. However, it was beating the market for most of 2021, rising from January through September. But then it suddenly started dropping and is now down 72% from its all-time high.
Lightspeed Commerce generates revenue by selling hardware point-of-sales devices to retail and restaurant customers, charging fees on transactions and providing subscription-software services. In the second quarter of its fiscal 2022 -- the most recently reported quarter which ended on Sept. 30 -- hardware, transaction-based revenue, and subscription services accounted for 7%, 49%, and 44% of total revenue. respectively.
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Source Fool.com
