Why Shift4 Payments, Inc. (FOUR) Plummeted on Wednesday

We recently compiled a list of the 10 Stocks Plummet on Wednesday. In this article, we are going to take a look at where Shift4 Payments, Inc. (NYSE:FOUR) stands against the other stocks.

The stock market ended firmer on Wednesday, with all major indices finishing in the green territory as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.

The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.

Ten companies bucked a broader market optimism, posting heavy losses, mostly due to disappointing earnings performance last year.

To come up with Wednesday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A business person using a mobile point of sale device outside of a retail store.

Shift4 Payments, Inc. (NYSE:FOUR)

Shift4 Payments, Inc. (NYSE:FOUR) fell 17.48 percent on Wednesday to close at $103.7 apiece as investors shunned twin news of improved earnings performance and its acquisition of a Swiss financial payments firm and instead focused on concerns over its CEO’s looming departure.

On Wednesday, Shift4 Payments, Inc. (NYSE:FOUR) announced that its CEO, Jared Isaacman, is set to leave the company to join and lead the National Aeronautics and Space Administration, at a time when the company recently acquired Global Blue.

The board of directors unanimously approved the merger, which is expected to be completed by the third quarter of the year.

On his return to the White House, President Donald Trump announced tapping Isaacman to lead NASA who is expected to drive NASA’s mission of discovery and inspiration, “paving the way for groundbreaking achievements in Space science, technology, and exploration.”

Overall FOUR ranks 3rd on our list of the stocks that plummeted on Wednesday. While we acknowledge the potential of FOUR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than FOUR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.