Another Day, Another Stock-Price Collapse for European Fintech
The painful repricing of Europe’s financial-technology sector continues.
Shares in French payments firm Worldline plunged 58% Wednesday, knocking roughly $4 billion off its market value, after the company cut its revenue forecasts for this year.
Peers also fell steeply. Adyen in the Netherlands and Italy’s Nexi lost about 7% and 20%, respectively.
Worldline warned that economic slowdowns in Germany and other core markets were hitting sales and profitability. Worldline, one of Europe’s largest providers of the technology behind point-of-sale terminals, also said it had stopped working with some merchants.