Paycom’s stock plummets after weak revenue forecast
Shares of Paycom Software lost over a third of their value before the bell on Wednesday, on track to wipe more than $5 billion off the payroll processor’s market capitalization, after its fourth-quarter revenue forecast lagged estimates.
Shares in Paycom were down 36% in premarket trading on Wednesday.
Paycom, one of the top percentage losers among NYSE-listed stocks in premarket hours, was last down nearly 36% at $155.89. The stock is set to open at its lowest since early 2019, if current…