Why IZEA Worldwide Stock Dropped Today

Jeremy Bowman, The Motley Fool
·2-min read
Why IZEA Worldwide Stock Dropped Today

Shares of IZEA Worldwide (NASDAQ: IZEA) pulled back today after the company released strong numbers for second-quarter bookings so far, but still underwhelmed investors after the company had promised on Twitter yesterday that it had "very exciting news to share." In the press release, IZEA, which is a digital marketing firm focused on influencers, said that bookings in Managed Services, the segment that makes up the vast majority of its business, had already exceeded the total from second quarter 2020 in just the first two weeks of the current second quarter. In an emotional live-streamed speech on Twitter, CEO Ted Murphy told of the dark depths the company was in a year ago when it asked employees to take a pay cut, and congratulated IZEA stakeholders for the dramatic comeback the company has staged, up to the skyrocketing growth in bookings it's now experiencing.