WIX - Up 80% From Lows Is It Too Late to Buy Wix.com Stock?
2023-04-14 08:33:00 ET
My small stake in Wix.com (NASDAQ: WIX) was one of my worst investments in the last couple of years. The company was an early winner from the pandemic when the world briefly went all-digital, but the stock then came crashing down far below pre-pandemic levels. It wasn't just the bear market of 2022. As growth rates slowed to a crawl, Wix was found to be sorely lacking in profitability.
Wix is still a dominant force in the website creation and management space, though, and is executing a plan to get itself more financially fit. Shares have rallied nearly 80% from lows last summer. Is it too late to buy?
Back in the day, Wix was a high-growth business, and it was highly profitable (at least as measured by free cash flow ). Then the early pandemic boom time and all of its digital excesses struck. Revenue surged 30% higher in 2020, followed by 29% in 2021.
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Up 80% From Lows, Is It Too Late to Buy Wix.com Stock?