TOST is trading at $24.39 (-17%) amid heavy selling pressure as investors appear to lock in gains following a significant post-earnings run-up.
- The stock had rallied to a close of $29.38 on May 7 following a strong Q1 beat, 27% recurring gross profit growth, and an upward revision to full-year guidance.
- Management raised its full-year recurring gross profit outlook to a range of $2.29B–$2.32B.
- Today's sharp decline occurs despite broader market strength in the S&P 500 and Nasdaq, suggesting the move is driven by technical selling rather than new fundamental catalysts.