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It’s been an interesting year for Lightspeed Commerce (TSX:LSPD) chief executive officer JP Chauvet, to say the least. On the one hand, Lightspeed stock has managed to do exactly what it set out to do in the last year. The company is in a strong financial position and building a business that spans the globe in a way that no other company has.
And yet, to look at its share price, you’d think the business was floundering. But that may not be the case for much longer, given where Lightspeed stock is headed.
Why the drop?
Shares of Lightspeed stock dropped this week as the commerce software vendor reported its third-quarter earnings. And honestly, the results were quite strong. The company beat out earnings estimates pretty much across the board, seeing organic revenue growth climb 27% year over year. The stock continued to expand its Unified Payments as well, with 29% of clients now using the platform….
