Shares of Amsterdam-based payment processor Adyen are up 38 percent today. While the stock closed at 959 euros on the Amsterdam Stock Exchange, it started the day at 696 euros. It’s rare for shares of a major company to jump this much in price. Adyen processes payments from major companies like McDonald’s and Uber.
Despite the huge price increase, the share price is still lower than at the beginning of the year. Because on August 17, there was a huge price drop in Adyen. In one day, the stock lost 39 percent, falling from 1,472 euros to 898 euros.
The reason at the time was that half-year profit of 320 million was much lower than shareholders expected. They fled because profits of 320 million euros in the last six months were lower than expected.
The reason for today’s price increase is that yesterday was a special day for investors in San Francisco. While Adyen also presents quarterly figures here, the company normally only publishes six-month figures. Sales increased by 22 percent in the last quarter. Adyen expects a 20 to 30 percent increase in annual sales by 2026. This gave confidence to investors who wanted to buy large amounts of shares, which caused prices to rise.
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
