Another Day, Another Stock-Price Collapse for European Fintech

By On Oct 25, 2023 22 0

Panorama of a city business district with office buildings and skyscrapers and superimposed data, charts and diagrams related to stock market, currency exchange and global finance. Blue line graphs with numbers and exchange rates, candlestick charts and financial figures fill the image with a glowing light. Sunset light.

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.