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Why Riskified Stock Jumped This Week

TheMotleyFool

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Why Riskified Stock Jumped This Week: https://g.foolcdn.com/editorial/images/733179/e-commerce-online-shopping.png

Week to date, shares of Riskified (NYSE: RSKD) were up 16.5% as of 10:15 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence. After falling 87% from its high in 2021, the e-commerce fraud protection provider reported a strong earnings report.

The company showed progress in reining in costs and moving toward a profit, which got investors' attention. The stock is now up 16% year to date.

Riskified has attractive growth prospects as an e-commerce fraud prevention partner for merchants. Revenue doubled between 2019 and 2022 to reach $261 million. But the company hasn't been profitable yet, which is the main reason the stock fell last year.

Source Fool.com

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