Klarna Group plc (KLAR) saw its shares plummet 5.13% during intraday trading on Friday, marking a significant decline for the financial technology company.
The sharp drop appears to be driven by analyst actions, specifically Wells Fargo analyst Jason Kupferberg lowering the firm's price target on Klarna to $26 from $32 while maintaining an Overweight rating on the shares. This substantial reduction in the price target, representing an approximately 18.75% cut, likely contributed to negative investor sentiment and selling pressure.
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