Fiverr stock dropped 25% yesterday after the company lowered guidance. As people go back to work it makes sense that less people will depend on gig jobs. People are traveling more, out of the house more so doing less gigs.
- I think this is an overshoot by investors.
- Fiverr actually delivered a stellar quarter and my thesis for the company remains bullish.
- Revenue was up 60% year over year.
- Spend per buyer was up 23%
- Bottom line: The gig economy will continue to grow and Fiverr will continue to grow with it.
- I'm up 111% Since June 2020
- Added 20% to current position.