Why Dave Stock Got Thrashed on Thursday
Investors wanted more from the company with its second-quarter performance.
Overview
The stock of banking services provider Dave (NASDAQ: DAVE) really took it on the chin Thursday, "thanks" to a quarterly earnings report that led to a pronounced sell-off. The fintech's shares closed the day more than 15% in the red.
This, despite Dave's second-quarter revenue growing 30% year over year to $170.8 million. The company noted that this was its ninth consecutive quarter of at least 30% growth. Management attributed this quarter's improvement to rises in its preferred customer metric, monthly transacting members (MTM), and average revenue per user (ARPU).
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.