Form SC 13D Wix.com Ltd. Filed by: Starboard Value LP
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Activist Involvement in Wix.com (WIX) Can Unlock 'Meaningful Value'
September 19, 2022 10:42 AM EDT(Updated - September 19, 2022 10:45 AM EDT)
Shares of Wix.com (NASDAQ: WIX) gained 10% early Monday after activist hedge fund Starboard Value disclosed a 9% stake in the company Friday afternoon and, according to reports from Reuters, spoke to the Israel-based website building platform about improving operations.
Starboard is said to support the company's plans to become profitable and believes it can improve its margins and grow further.... More
Starboard Value Confirms 9% Stake in Wix.com (WIX) (earlier)
September 19, 2022 7:53 AM EDTActivist hedge fund Starboard Value confirmed a 9% stake in Wix.com (NASDAQ: WIX).
More:
The Reporting Persons purchased the Shares based on the Reporting Persons belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer... More
