Why Global-e Online Shares Are Nosediving Thursday

Why Global-e Online Shares Are Nosediving Thursday

Global-e Online Ltd GLBE shares are trading lower by 15.5% to $20.74 going into the close of Thursday's session after the company reported worse-than-expected third-quarter EPS results.

What Happened?

Global-e Online reported quarterly losses of 41 cents per share which missed the analyst consensus estimate of a loss of 30 cents. This is a decrease over losses of 19 cents per share from the same period last year.

Foreign exchange created a headwind in the quarter, costing the company several points of growth, and was responsible for the shortfall in 4Q22 revenue guidance...Read More

See Also: Why Tencent Music Shares Are Soaring Higher Today

Global-e Online offers a platform to enable and accelerate global, direct-to-consumer cross-border e-commerce.

According to data from Benzinga Pro, GLBE has a 52-week high of $69.83 and a 52-week low of $15.63.

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