Wix.com shares plunged 58% over the past year as AI disruption and slowing growth prompted Diamond Hill to exit its position.
Diamond Hill Capital’s Large Cap Strategy sold its entire stake in Wix.com (WIX) after the cloud-based web development platform reported disappointing Q2 2026 results. WIX closed at $56.34 on July 31, down 58.13% over the past 52 weeks, with a market capitalization of $2.45 billion.
The company cited slowing growth due to AI-driven competition and reduced its 2026 revenue guidance following a workforce reduction. WIX shares traded between $40.16 and $190.93 over the past year, reflecting broader challenges in its core business.
Hedge fund ownership of WIX declined, with 53 funds holding the stock at the end of Q1 2026, down from 45 in the prior quarter. Diamond Hill redirected capital to more attractive opportunities amid the fundamental headwinds.