Wix.com shares dropped 27% on May 13, 2026, wiping out over $1.1 billion in market value after the company reported a 46% year-over-year increase in operating expenses driven by heavy spending on AI projects Base44 and Harmony. These initiatives caused sales and marketing costs to surge 88%, collapsing operating margins from 21% to 5%. The sharp rise in costs and margin miss raised investor concerns about Wix's ability to compete amid AI disruption, prompting law firm Hagens Berman to investigate potential investor misinformation and securities law violations. Investors who suffered losses are encouraged to contact the firm for possible legal action.
Wix.com reported Q1 2026 earnings and revenue below expectations, citing issues with its professional developer business and delays in product updates. The company acknowledged competition from other AI tools and shortcomings in its Wix Harmony platf...
Wix.com faces a securities fraud investigation after its stock dropped 27% following disappointing Q1 2026 results. The company revealed lower earnings and revenue than expected, citing weak demand from professional developers who preferred competito...
