Why Riskified Stock Got Smacked Today
Shares of Riskified (NYSE: RSKD), a technology company serving e-commerce businesses, fell sharply on Tuesday, after the company reported third-quarter financial results. The company beat guidance and expectations and even raised its outlook for the rest of the year. But a couple of warning flags outweighed these positives, sending the stock to an all-time low. As of noon EST today, the stock was down 21% for the session.
Going into the third quarter, management had guided for revenue of up to $51.2 million, and that's about what analysts were expecting as well. However, the company bested this number with revenue of $52.5 million, up 26% year over year. Moreover, management raised its full-year revenue guidance from a range of $224.4 million to $225.4 million, to a range of $226.2 million to $227.2 million.
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Source Fool.com
