Why Did LegalZoom Stock Drop 27% Last Month?

Quarterly earnings raised concerns Even in good times, online legal services are a relatively slow-growth and fragmented industry. LegalZoom has a handful of established competitors, but thousands of online legal service businesses collectively hold nearly three-quarters of the market share. It's difficult for any of these platforms to differentiate themselves. Shares of LegalZoom (LZ -0.35%) tumbled 26.5% in May, according to data from S&P Global Market Intelligence. The stock moved sharply lower following ...