Adyen, the European payments processor and top 200 global fintech has seen its stock price plummet 39%, resulting in a $20 billion loss in market capitalization after reporting its slowest revenue growth on record for the first half of the year. Adyen attributed the decline to aggressive pricing by competitors, particularly in North America. The company’s focus on functionality over price, and its expansion efforts, also contributed to the decline through increased employment costs.
Europe’s Stripe Rival Adyen Saw $20 Billion Wiped Off its Value in a Single Day. Here’s What’s Going On
