Adyen Plummets as Sales Miss Erases $20 Billion of Market Value

Adyen NV’s shares plunged as aggressive competition in North America contributed to the slowest revenue growth since its initial public offering, erasing more than €18 billion ($19.6 billion) of market value in a single day.

Shares of the Dutch payment processing company fell a record 40.6% to €875 at 4:49 p.m. in Amsterdam, the lowest since May 2020. Trading was temporarily halted due to volatility multiple times in the day.

Pricing competition, higher inflation and interest rates stunted revenue growth in the first half, the Amsterdam-based fintech firm said on Thursday. Net sales rose 21% to €739.1 million in ...