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Forge Global slumps after Q4 revenue miss

ReutersMar 6, 2025 7:28 PM

Shares of private market platform Forge Global FRGE.N plunge as much 21.1%, last down 16.8% at $0.68

Late Wednesday, FRGE reported Q4 revenue below Wall Street expectations for the second consecutive quarter

J.P. Morgan says there is considerable work ahead before FRGE can reach adjusted EBITDA break-even as the expected recovery in transaction volumes remains elusive

Still, brokerage says underlying data points towards improving volumes in 2025

William Blair says FRGE is well positioned for a stronger recovery in private market conditions, but the timing remains uncertain

Adds that it needs to see sustainable improvements to get more constructive on the stock

Stock down 27% YTD

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