Worldline Shares Plunge 60% as Company Cuts Growth Outlook Due to Europe Slowdown and Dropped Merchants
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Worldline cuts 2023 growth and margin outlook, shocking investors and hitting stock and rivals.
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Economic slowdown in Europe reducing non-essential consumer spending, company says.
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Severed ties with some merchants to reduce cybercrime risks, impacting revenues.
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Shares plunge over 60% to record low, wiping $4 billion off market value.
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Sell-off spreads to payment sector stocks like Nexi, CAB Payments, Adyen and U.S. fintechs.