Why Paysign Plunged Today
The small-cap payment card processor Paysign (NASDAQ: PAYS) fell on Wednesday, dropping as much as 27.7%, before recovering to a 12.3% decline on the day.
Paysign reported first-quarter earnings that showed strong growth and beat Wall Street's expectations by a wide margin. But, as is often the case, management's conservative forward guidance sent the stock down after recent strong gains to start the year.
In the first quarter, Paysign grew revenue 50.8% to $28.04 million, with adjusted EPS rising 80% to $0.09. Both figures beat analyst expectations by a significant margin.
Source Fool.com
