Market Cap Drops $1.8 Billion in a Day… U.S. Restaurant Payment Leader Plummets

Toast Inc. (NASDAQ: TOST) shares plummeted 10.31% to close at $28.25 on March 3 on the New York Stock Exchange, dragging its market capitalization down to about $14.5 billion (approximately KRW 19 trillion). In a single session, roughly $1.3 billion—about KRW 1.8 trillion—in market value evaporated, and trading volume topped 13.4 million shares.

Although the stock showed a short-term rebound signal from an oversold technical condition the previous day, its intraday 5% decline widened into a double-digit drop by the close. Recently, the company raised its adjusted EBITDA forecast for fiscal 2025, projecting around $560 million in profit. Despite this upward revision, share-price volatility has increased.

Toast is a cloud-based platform provider offering U.S. restaurants integrated point-of-sale terminals, payment processing, and reservation and operations software. As of 2024, it serves over 130,000 locations, generating recurring revenue from transaction fees and subscription charges. By expanding partnerships with companies like Uber and American Express to encompass dining reservations and delivery networks, Toast has been regarded as a mid- to long-term growth stock.