What's Going On With Toast Stock Wednesday?
Portfolio Pulse from Erica Kollmann
Toast, Inc. (NYSE:TOST) has decided to remove a $0.99 order processing fee from its digital ordering suite. The company stated that the removal of the fee will not impact its previously announced guidance for fiscal year 2023. Shares of TOST are trading lower on high trading volume, with more than 9.7 million shares traded compared to the stock's 100-day average volume of 6.78 million shares.
July 19, 2023 | 2:28 pm
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Toast, Inc. has removed a $0.99 order processing fee, which is not expected to impact its FY2023 guidance. However, the stock is trading lower on high volume.
The removal of the fee is a positive move for customers, but it's unclear how this will affect the company's revenue. Despite the company's assurance that this will not impact its FY2023 guidance, the market has reacted negatively, with the stock trading lower on high volume. This suggests that investors may be concerned about the potential impact on the company's profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100