Adyen’s $20 Billion Wipeout Caught Almost Everyone Off Guard
- Neither analysts nor short sellers were ready for stock’s dive
- Slowest sales growth since 2018 IPO sent shares into tailspin
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Almost no-one saw Adyen NV’s €18 billion ($20 billion) share plunge coming.
Prior to Thursday’s 39% drop, the majority of analysts had a buy or equivalent rating on the Dutch payments processing company. And of the few that had a sell, even Citigroup Inc.’s Street-low target of €1,050 was made to look optimistic. Adyen shares closed at €898.4 in Amsterdam, and extended their losses on Friday.