Adyen’s shares plunged after increased competition in North America contributed to the slowest revenue growth since its initial public offering, wiping out more than €12 billion ($13.1 billion) of its market value in a single day.
Shares of the Dutch payment processing company fell a record 27% to €1,081.40 at 11:40 a.m. in Amsterdam, the lowest since May 2020. Trading was temporarily halted due to volatility earlier in the day.
