Market PerformanceLightspeed shares have underperformed year-to-date, with a decline of 26%, as revenue growth has not fully rebounded to early 2023 levels amid a difficult macro environment.
Strategic UncertaintyThe Capital Markets Day was canceled, and a strategic review is ongoing, which may cause uncertainty about potential strategic transactions.
Valuation ConcernsThe company's shares are no longer trading on fundamentals, leading to a move to No Rating and advising investors against relying on previous ratings or price objectives.