Earnings approach this week and we hope to see WIX follow in the footsteps off SHOP and GDDY with some blowout numbers as online presence becomes a must in the shutdown economy and will continue to thrive as the consumer becomes more and more reliant on online shopping.
Company profile Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.
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If overbought conditions remain , holding into earnings may become high risk as profit taking in afterhours could led selloff.