Wix (WIX) Beat Revenue Estimates But Here’s What Bank of America’s Michael McGovern Is Worried About

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We just published a list of the 10 Stocks Analysts Are Downgrading Right Now and Wix.com (NASDAQ:WIX) ranked 6th on this list. Stocks slid again on Tuesday after a hotter-than-expected inflation report fed bets on higher interest rates, and all three major indexes finished lower. The Dow fell 0.30% to 52,231.89, the S&P 500 lost 0.38% to 7,520.93, and the Nasdaq Composite dropped 0.74% to 25,065.87. Government data showed consumer prices rose 0.4% in October, the third straight monthly gain of at least that size, against the 0.3% economists expected. Core prices rose 0.3%, ahead of a 0.2% forecast, and traders spent the session weighing how many more rate increases may be coming.