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🔵LEGALZOOM SHARES PLUNGE AFTER CEO'S EXIT

🔵LEGALZOOM SHARES PLUNGE AFTER CEO'S EXIT

Day: 10 | Time: 17:27:22.000Z LegalZoom (LZ) shares plummeted 30% to a historic low on Wednesday, following the announcement that CEO Dan Wernikoff will be leaving the company and the downward revision of financial forecasts for the entire year. Wernikoff will be immediately replaced by board member and entrepreneur Jeffrey Stibel. LegalZoom stated that this is the "right opportunity for this transition" as it shifts its focus towards subscription-based revenues to drive long-term and profitable growth. The company also lowered its forecasts for 2024, without providing a reason for the changes. Shares dropped to a historic low of $5.33.

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Source: Yahoo, Bloomberg , Reuters, Trading Economics,