🔴 TOST is trading 11% down today on profit-taking after post-earnings rally

TOST is trading at $26.28 (-11%) in pre-market, reversing yesterday's close of $29.38 on likely profit-taking following a post-earnings rally.

• Toast beat Q1 earnings estimates on May 7 and raised its full-year guidance for recurring gross profit to $2.29B–$2.32B and Adjusted EBITDA to $790M–$810M.
• The decline occurs on light pre-market volume with no new company-specific news reported today.
• Broader market futures are trading modestly higher, suggesting the move is a correction from recent gains.