What Happened?
Shares of website building platform Wix (NASDAQ: WIX) jumped 4.4% in the morning session after the company announced the launch of Wix Harmony, described as a world-first AI website builder.
The new platform combines Wix's web development tools with artificial intelligence to offer a "faster, most powerful way" to create a website. The company's CEO, Avishai Abrahami, stated an ambition for 50% of new internet sites to be built on Wix within the next five to seven years.
After the initial pop the shares cooled down to $88.47, up 4.6% from previous close.
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What Is The Market Telling Us
Wix’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 22 hours ago when the stock gained 6.9% on the news that reports of easing geopolitical tensions in Greenland boosted investor sentiment.
The relief rally saw major indices, including the S&P 500 and the tech-heavy Nasdaq Composite, rebound as investors moved back into riskier assets. This positive shift was reflected across the technology landscape, with all of the Magnificent Seven tech firms seeing their shares climb. The easing of international friction reduced market uncertainty, which often encourages investment in growth-oriented sectors like technology. The move was part of a broader market upswing, with the Dow Jones Industrial Average adding 500 points, signaling increased investor confidence.
Wix is down 12.4% since the beginning of the year, and at $88.47 per share, it is trading 64.1% below its 52-week high of $246.76 from January 2025. Investors who bought $1,000 worth of Wix’s shares 5 years ago would now be looking at an investment worth $347.18.
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