On August 8, Chime Financial, Inc. declined 5.18% in regular trading, trading at $29.615 USD/share, with turnover of $238 million. The pullback follows a sharp rally of approximately 24% in the prior session driven by a strong Q2 earnings beat.
The broader Transaction & Payment Processing Services sector exhibited widespread weakness during the session. Among individual stocks, MasterCard fell 2.03%, Visa fell 1.71%, Sezzle Inc dropped 34.74%, Block, Inc. declined 0.39%, and Fiserv fell 4.90%. The sector-wide selling pressure weighed on Chime Financial, Inc. despite the company having recently reported Q2 revenue of $669.8 million, exceeding estimates of $641.3 million, and EPS of $0.07 versus an expected breakeven. The company also raised full-year revenue guidance to $2.725-$2.745 billion, above the consensus estimate of $2.68 billion, and B. Riley lifted its price target to $37 maintaining a Buy rating.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)