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Another Day, Another Stock-Price Collapse for European Fintech

CEO Gilles Grapinet said Worldline faces

CEO Gilles Grapinet said Worldline faces “more challenges than we anticipated.” (Nathan Laine/Bloomberg News)

The painful repricing of Europe’s financial-technology sector continues.

Shares in French payments firm Worldline plunged 59% Wednesday, knocking roughly $4 billion off its market value, after the company cut its revenue forecasts for this year.

Peers also fell steeply. Adyen in the Netherlands and Italy’s Nexi lost about 6.5% and 15%, respectively.

Worldline, one of Europe’s largest providers of the technology behind point-of-sale terminals, warned economic slowdowns in Germany and other core markets were hitting sales and profitability.

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