Klarna shares crashed 26% after $26 million Q4 loss. One year ago, it earned $40 million profit. Revenue hit $1.08 billion — a record high. But Wall Street expected near-zero losses. Q1 revenue guidance missed analyst targets. GMV growth is slowing. New installment loans hurt short-term profits. Morgan Stanley cut its price target. Lock-up expiration threatens more selling. BNPL stock outlook remains uncertain.
