Why Shopify Stock Dropped Today
Shares of Shopify (NYSE: SHOP) fell 6% on Tuesday after the online retail platform announced a public stock offering.
Shopify will sell 1.18 million shares to investors at a price of $1,315 per share. The sale price was set approximately 5% below Shopify's closing price on Monday, and its shares fell in kind.
Shopify gave up some of its recent gains on Tuesday. Image source: Getty Images.
Source Fool.com
