Quick Read – How Often Is AI An Excuse For Layoffs? – Wix Was Already In Trouble – Wix Has A Stock Collapse – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Wix didn’t make the cut.
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Wix (NASDAQ: WIX), a dog of a company, laid off 1,000 people and said the primary reason was “fast evolution of AI capabilities.” Currency exchange rates were given as another reason Wix is doing poorly enough that it may have had to make the cuts anyway. It had 5,200 workers before the cuts. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Wix didn’t make the cut.
Grab the names FREE today. Wix is a development platform company. This sector has been under pressure because of a belief that AI software can do much of the work it counts on to make money Wix was on the ropes based on its last financial results.