Toast Inc (TOST)

Shares of Toast Inc (TOST) dropped by 13.68% from $17.25 to $14.89 in the trading on Wednesday, Novemeber 8, 2023. The reasons why TOST down include:

• Solid Q3 Performance: Toast reported strong Q3 results with annual recurring revenue (ARR) reaching $1.22 billion, gross payment volume rising to $33.7 billion, and overall revenue increasing by 37% to $1.03 billion. It expanded its locations by 34% to 99,000.
• Disappointing Guidance for Q4: Toast's outlook for the fourth quarter includes revenue expectations of $1 billion-$1.03 billion, indicating a sequential decline from the third quarter. This slowdown is attributed to the seasonal nature of the restaurant industry during this period. The company also expects adjusted EBITDA of $5 million-$15 million.

Toast Inc Stock (TOST) dropped by 5.16% from $18.81 to $17.84 in the trading on Thursday October 12, 2023. The reasons why TOST stock down today include

• Lower price target: Toast had its price objective decreased by analysts at The Goldman Sachs Group from $26.00 to $21.00, which caused TOST stock down today. The brokerage presently has a "neutral" rating on the stock.
• Insider selling: Both the outgoing and the incoming CEO of Toast sold TOST shares during September, which caused negative sentiment for investors.

Shares of restaurant technology company Toast (TOST) plummeted -15.70% after removing a controversial fee on transactions. In June, Toast introduced a $0.99 processing fee for customers of restaurants using their technology. This move angered Toast's customers.

https://www.fool.com/investing/2023/07/19/toast-stock-plunges-after-it-eliminates-controvers/