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 platform. Following the disappointing results, Wix's stock price dropped 27% on May 13, 2026. Pomerantz LLP has launched an investigation into whether Wix and its executives engaged in securities fraud or other unlawful practices, potentially leading to a class action lawsuit by investors.
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 caus...
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...
