Positive Sentiment Still Eludes Pagaya Technologies Ltd. (NASDAQ:PGY) Following 29% Share Price Slump
The Pagaya Technologies Ltd. (NASDAQ:PGY) share price has softened a substantial 29% over the previous 30 days, handing back much of the gains the stock has made lately. The good news is that in the last year, the stock has shone bright like a diamond, gaining 153%.
After such a large drop in price, Pagaya Technologies’ price-to-sales (or “P/S”) ratio of 2x might make it look like a strong buy right now compared to the wider Software industry in the United States, where around half of the companies have P/S ratios above 5.1x and even P/S above 14x are quite common. However, the P/S might be quite low for a reason and it requires further investigation to determine if it’s justified.
