Why Shopify Plunged 23% This Week
Shares of Shopify (NYSE: SHOP) are plunging 22.7% this week compared to where they closed last Friday, according to data provided by S&P Global Market Intelligence, after the e-commerce platform reported earnings that indicated its pandemic tailwinds have evaporated.
CFO Amy Shapero told analysts, "We believe that the Covid-triggered acceleration of e-commerce that spilled into the first half of 2021 in the form of lockdowns and government stimulus will be absent from 2022."
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Source Fool.com
