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Why Hepsiburada Stock Was Taking a Dive Today

Jeremy Bowman, The Motley Fool
·2-min read
Why Hepsiburada Stock Was Taking a Dive Today

Shares of Hepsiburada (NASDAQ: HEPS) were plunging today after the Turkish e-commerce company slashed its forecast for the current quarter and the full year in response to the lifting of pandemic restrictions. The company also announced an advertising partnership with Meta Platforms' (NASDAQ: FB) Facebook, but the market overlooked that in favor of the reduced outlook. In a press release this morning, Hepsiburada said that customer mobility increased in response to the end of COVID-19 restrictions, and online card spending in Turkey fell significantly.

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