Shares of marketing automation platform Klaviyo Inc (NYSE:KVYO) are plummeting today, down 29.1% at $16.54 at last check, on track for its worst single-session decline on record. The selloff comes despite better-than-expected first-quarter earnings and revenue results, a record operating margin, and a strong full-year forecast.
The unexpected departure of CFO Amanda Whalen is weighing, as well as a disappointing current-quarter revenue outlook. Margin concerns drew bear notes, with no fewer than six analysts slashing their price targets on KVYO.
After yesterday trading at its highest levels since January, Klaviyo stock fell to a record low of $15.51 out of the gate. The $16 region appears to be keeping today's pullback in check, however, as it did in February and April.
A portion of today's pullback could've already been in the cards, per KVYO's 14-day Relative Strength Index (RSI) of 81.3, firmly in "overbought" territory. Year to date, the equity is down roughly 50%.
Over in the options pits, KVYO has seen 3,652 calls and 729 puts exchanged so far -- six times the overall options volume typically seen at this point. The January 2027 35-strike call is the most popular, followed by the July 30 call, with new positions opening at the July 12.50 call.
