Why Shopify Inc. Stock Dropped Today
Shares of Shopify Inc. (NYSE: SHOP) fell 11.6% on Wednesday after short-seller Citron Research released a new report describing the e-commerce platform specialist as a "get-rich-quick" scheme that runs afoul of Federal Trade Commission regulations.
With the caveat that Shopify's platform is arguably "the best build-your own e-commerce software on the market," Citron founder Andrew Left likened Shopify and its affiliate program to Herbalife, which last year was required to pay a $200 million settlement with the Federal Trade Commission for misrepresenting the earnings potential of its own distributors.
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Source: Fool.com
Shopify Inc Stock
€135.32
27.470%
The community is currently still undecided about Shopify Inc with 2 Buy predictions and 0 Sell predictions.
On the other hand, the target price of 119 € is below the current price of 135.32 € for Shopify Inc, so the potential is actually -12.06%.
