- Summary:
- Worldline share price has plummeted to record lows after the firm lowered its full year targets. Let's analyze if it's a bargain at current prices.
Worldline shares have plunged to historic lows after the European fintech giant quite unexpectedly slashed its full year targets. This resulted in a panic among the holders of the European fintech stocks as most of them capitulated.
Worldline share price plummeted 59.24% in a single day. On Thursday, the shares of the French payment processor are showing a 5% recovery but the bearish market sentiment remains intact. After this collapse, the stock has wiped out $4 billion from its market capitalization.
According to Worldline, the economic slowdown in Germany and major EU countries has impacted its business. Additionally, the fintech firm also revealed that it had to sever ties with many merchants amid cybersecurity and fraud concerns.
After hitting the record low of €9.31, Worldline share price is currently changing hands at €9.85. This unprecedented downtrend has triggered a sell-off in the stocks of other fintech firms like Cab Payments and Nexi. The stock of both payment processing companies
Worldline Share Price Forecast
You don’t have to be a trading wizard or a technical analyst to understand what’s happening in the following WLN.PA chart. This chart reveals the significance of the $31.8 level. This level was a previous support level which may now act as a massive resistance.
The recent crash has turned Worldine share price forecast very bearish. Therefore, it’s better to let some price action develop for better clarity. Buying this stock right now might end up like catching a falling knife.
Nevertheless, due to the oversold status of most indicators, a relief bounce in the coming days can’t be ruled out. In case of such a rebound, the price may try to fill the gap which lies above €15. However, such gaps may take months or even years to get filled and trades shouldn’t be made on the assumption of getting them filled.
