On Aug. 11, website builder and online business platform Wix (NASDAQ: WIX) reported its second-quarter earnings results. The numbers looked solid with revenue growing 34% year over year and a major new partnership signed in the quarter.
However, due to uncertainty around the COVID-19 delta variant, management slightly lowered its guidance for the full year. The market didn't like this news, pushing the stock down as much 25% in the week following the report.
Shares are still down over 15% as of this writing, and this sell-off could be an opportunity for anyone looking to start a long-term position in Wix. Here's why I'm bullish on the stock after its latest quarterly results.
For further details see:
Why I'm Bullish on Wix Stock After Its Latest Earnings Report