Why PaySign Stock Just Crashed 28%

Prepaid card provider and payment processor PaySign (NASDAQ: PAYS) reported Q2 earnings last night, and it seems the company missed on both sales and earnings. Analysts had told investors to expect a huge jump in sales in Q2 -- 46% -- but PaySign's revenues declined 26% instead. Gross profit margins plunged 700 basis points to 51.3%, pushing PaySign into a net loss of $219,234.