Here's Why Wex Stock Plunged Today

Gas prices unexpectedly came down, and that's hurting revenue.Shares of financial technology (fintech) company Wex (WEX -14.98%) plunged on Thursday after reporting financial results for the third quarter of 2024 that fell well below management's prior guidance. As of 3:10 p.m. ET, Wex stock was down 14%.Lower fuel prices hit WexWex is an enterprise fintech company specializing in fuel cards, corporate travel, and benefits-management software. In Q3, the company generated revenue of $665 million, which was ...