Wix stock has formed a risky pattern: will it crash further?

Core Insights - Wix's stock price has fallen into a bear market, declining over 48% from its peak this year due to concerns regarding its growth and increasing competition [1] Company Summary - The significant drop in Wix's stock price indicates a loss of investor confidence, primarily driven by worries about the company's growth trajectory [1] - The emergence of new competitors in the market is contributing to the challenges faced by Wix, further exacerbating the decline in its stock value [1]