Wix’s Descent: A 70% Dip and One Investor’s Exit

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Wix Stock Chart

It has come to our attention – and really, in the grand scheme of things, whose attention doesn’t it come to? – that shares of Wix.com (WIX +8.43%) have experienced a rather precipitous decline. Seventy percent, to be precise. Which, when you consider the sheer improbability of existence itself, is… well, it’s a number. On February 17, 2026, Metavasi Capital decided that enough was enough, and sold its entire stake in the company. A perfectly rational decision, really, given the inherent chaos of the universe. (Though, one does wonder if they consulted a soothsayer. Just in case.)

What Happened, or, The Curious Case of the Disappearing Equity

According to a filing with the U.S. Securities and Exchange Commission – a document so densely worded it could likely be used as a structural component in a small building – Metavasi Capital offloaded its 37,000 shares in Wix.com. This resulted in a paper loss of $6.57 million. Which, while regrettable, is considerably less than the estimated cost of replacing all the lost socks in the known universe. (A figure we’re still calculating, naturally.)

A Portfolio in Flux, or, What Else is Going On?

Let’s take a quick peek at Metavasi’s remaining holdings, shall we? It’s a bit like looking at a particularly complex arrangement of dominoes, each representing a gamble on the future. (And let’s be honest, all investment is, at its core, a gamble. A highly sophisticated, mathematically modeled gamble, but a gamble nonetheless.)

  • NYSE:SPHR: $20.74 million (9.1% of AUM)
  • NYSE:BLND: $19.41 million (8.6% of AUM)
  • NASDAQ:APP: $18.82 million (8.3% of AUM)
  • NASDAQ:DAVE: $16.39 million (7.2% of AUM)
  • NYSE:COMP: $12.54 million (5.5% of AUM)

As of February 17, 2026, Wix.com shares were trading at $68.07, a figure that, while still representing a functional unit of exchange, feels strangely… diminished. Compared to the S&P 500’s roughly 15% gain over the same period, Wix’s performance is, shall we say, less than stellar. (One imagines the S&P 500 is quietly celebrating, perhaps with a small, discreet gathering of index funds.)

Wix: A Snapshot, or, The Numbers Tell a Story (of Sorts)

Metric Value
Price (as of market close 2/17/26) $68.07
Market Capitalization $3.83 billion
Revenue (TTM) $1.93 billion
Net Income (TTM) $138.90 million

For those unfamiliar, Wix.com provides a cloud-based platform for website creation, web applications, payment processing, and generally enabling people to establish an online presence. They cater to individuals, small businesses, and enterprises – essentially, anyone who wants to shout into the digital void. (And, let’s face it, most of us do, at some point.)

They operate at scale, serving millions of users worldwide. Their business model revolves around subscriptions, value-added services, and payment processing fees. It’s a robust platform with a diverse ecosystem, a global reach, and a disconcerting ability to remind you to renew your subscription just when you’ve almost forgotten about it. (A truly impressive feat of digital persistence.)

What Does This Mean for Investors? Or, The Art of Letting Go

When a stock plummets 70% in a year, one might anticipate catastrophic fundamentals. However, Wix’s recent numbers paint a more nuanced picture. Third-quarter revenue increased 14% year over year to $505.2 million, with bookings up 14% to $514.5 million and Creative Subscriptions ARR climbing to nearly $1.5 billion. Free cash flow hit $127 million, and management expects around $600 million in free cash flow for 2025.

This makes Metavasi’s exit all the more… intriguing. Especially considering their portfolio is tilted toward high-beta growth names like Sphere Entertainment, Blend Labs, AppLovin, and Dave. Even compared to those, Wix stands out as a scaled platform with recurring revenue, 69% non-GAAP gross margins, and improving operating leverage. Plus, their AI-driven product, Base44, is serving over 2 million users and was on track for at least $50 million in ARR by last quarter.

Still, the internet stock landscape is…challenging. Ultimately, it appears this investor found a more compelling opportunity elsewhere. (Perhaps they’ve invested in a company that manufactures self-folding laundry. Now that’s a growth stock.)

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2026-02-27 02:34