Wix Shares Drop 16.4% Amid AI Disruption Fears
Wix's shares plummeted 16.4% in January due to market fears that AI could severely disrupt its business model, despite a buyback plan offering little support. While the company's revenue increased, concerns are growing about future profitability as AI tools become more prevalent, potentially impacting customer retention and profit margins. Analysts have lowered price targets for Wix, emphasizing the uncertain competitive landscape in the AI website building space.
https://intellectia.ai/news/stock/wix-shares-drop-164-amid-ai-disruption-fears