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Let's also add EBITDA trend as it is relevant: Period EBITDA (MN) HoH Growth Rate H1 2018 70.3 - H2 2018 111.7 58.9% H1 2019 125.8 12.6% H2 2019 153.5 22.0% H1 2020 140.9 -8.2% H2 2020 236.8 68.1% H1 2021 445.0 87.9% H2 2021 357.3 -19.7% H1 2022 356.3 -0.3% H2 2022 372.0...

@zhenchris But Braintree is owned by Paypal, and Paypal is being a pain as well (I mean the share performance)

@hmd If it was dumb retail, then the stock should bounce quick as soon as "educated" investors realise that there is a discount of 35% from one day to another. That is why I am trying to read as much as I can about the rest of the metrics. I havent seen any thing weird.

@colton18 I don't think it is dumb retail selling. This looks a massive sell-off and still not sure the reason. The management is very confident with the hiring which is eating a bit the margins of the company. The scenario here is that all the competitors went to staff cut/headcount reduction...

@firemist I have added the position in my portfolio as I saw it falling to 40%. I wasn't able to find any fundamental change in their business - apart from the lower margins (due to higher hirings) in a slowing down environment that affects every company (so not specific)

@kittym Yeah, I think as you say a lot of investors get scared when you have the most important accounting item of the company re-defined. You think, well, a listed company which was top globally speaking and market cap wise, should have been discussed this a long time ago. Why now? This is not...

@dustie But very different business model, right? I know Paypal Holding has few companies and one is direct competitor of a company like this, but Adyen is very strong in Europe and has clients like H&M, Microsoft, Uber, etc... But Paypal has higher net margins and it is trading in a value...

As promised, this is the trend of the real metric that matters for this company: Period Net Revenue (MN) HoH Growth Rate H1 2018 156.4 - H2 2018 192.5 23.1% H1 2019 221.1 14.8% H2 2019 275.6 24.7% H1 2020 279.9 1.6% H2 2020 379.4 35.5% H1 2021 445.0 17.3% H2 2021 556.5 25.1%...

Source: Bloomberg

@pangalaj Yeah, though as you know the valuation depends very much in the growth rate. If there is a turnaround and company all of a sudden shows double digit growth in the next earnings, then it will be repriced again. The PE of 50 was well priced bcuz of the high growth (check the first chart...

@bowtiedguy What would be the top 2 or 3 alternatives for corporates when diversifying from Adyen? I know that each provider has something unique that companies might find useful depending on the nature of their operations. I would defintely say Stripe (based in Ireland so works perfect for EU...

Stock is down 30% and I am a bit shocked and at the same time thinking on buying it **Background:**Adyen is a company that provides payment processing and acquiring services to merchants. They work with third parties like financial institutions and network scheme providers to enable these...