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The IT sector remains a lucrative investment option during a pandemic and volatile geopolitical world. Securities of IT companies can be used in trading focused on both short-term and long-term strategies. One interesting asset from the IT sphere is Wix stock.
Wix.com is an international online platform for designing and developing Web sites and their mobile versions. The project was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan in 2006. The company is headquartered in Tel Aviv, Israel. Wix also has offices in other cities around the world including New York, Vilnius, Miami, and San Francisco.
The company went public after its IPO in November 2013, when Wix shares were listed on the NASDAQ. The cloud platform was valued at $16.5 at the time. Wix.com had several rounds of investment, during which the project received investments from investment funds Mangrove Capital Partners, Insight Venture Partners, and Benchmark Capital.
Wix operates on a freemium business model. Users of the platform have the opportunity to develop sites for free and develop them by buying useful improvements. For example, to connect a personal domain, create an online store, increase data storage and get access to other benefits you can sign up for a Premium plan.
Wix.com users can use:
The main idea of the project was to make the Internet open for all people to express themselves, interact with each other and develop. Users of the platform can create websites in HTML5 using drag-and-drop tools.
On March 7, 2022, the Israeli media reported that Wix was leaving the Russian market. However, the company's management denied the news, specifying that the platform would support freedom of speech for Russian citizens. In this case, access to free tools to create a website will remain open to Russian users.
After the announcement about continuing operations in Russia, Wix shares began to go up in price. While on March 7 the cloud platform securities were traded at $74, on March 24 the Wix Stock quotes rose to $95.
In Q4 2021, Wix.com's total revenue reached $328.34 million, a 16% increase over last year's total for the same period. Annual revenue for 2021 was $1.27 billion, a 29% improvement over the 2020 results for the cloud platform. The number of registered users of the service reached 222 million on Dec. 31, 2021, a 13% increase over the number on Dec. 31, 2020.
The company's management noted that the demand for online services has increased over the past 1.5 years, helped by the COVID-19 pandemic. Wix stock has also started to rise in value since early March 2020. However, in November 2021, quotes went into a slump and dropped below $100 from the $200 level by March 2022.
During the coronavirus pandemic, demand for the cloud platform's products increased. Wix's stock price rose from $100 in March 2020 to $350 in January 2021.
To earn from Wix stock trading, go to your personal DotBig account and make a deposit. Then select a desktop or mobile version of the trading platform.
Over the last year, Wix stock has fallen from $280 in March 2021 to $95 in March 2022.
For automated trading, DotBig offers advisor programs and a social trading platform. You can also use trading signals
The IT sector also includes Riskified, Check Point Software Technologies Ltd, JFrog Ltd
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