Why Wix Stock Tumbled 13% Last Month
Shares of Wix.com (NASDAQ: WIX) fell 13.5% in September, according to data provided by S&P Global Market Intelligence, as investors began selling off tech stocks during the month, cashing in on gains made earlier in the year. Wix, the cloud-based web development company, has seen its stock jump by as much as 145% this year, as investors flocked to tech stocks at the beginning of the pandemic. Investors have focused their attention on companies that they think can help businesses adapt to lockdowns and stay-at-home restrictions.
