Wishbone Management has fully exited its position in Lightspeed Commerce (LSPD), selling 2.8 million shares for approximately $27.96 million, as reported in its May 14, 2026, SEC filing. This move comes as Lightspeed’s stock has struggled, down about 15% over the past year, significantly underperforming the S&P 500, which has risen 25% in the same timeframe.
The sale indicates a potential loss of confidence from Wishbone regarding Lightspeed’s turnaround prospects, especially as the company reported a 14% increase in fiscal 2026 revenue to $1.23 billion and a gross profit rise of 17%. Despite these improvements, the broader market’s harsh treatment of software stocks may have influenced Wishbone’s decision to divest, alongside other exits from positions in Accenture and EPAM.
For market professionals, this exit underscores the growing caution surrounding software investments, particularly in light of Lightspeed’s mixed performance and the challenging market environment for tech stocks.
Source: fool.com