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.
IMAGE SOURCE: GETTY IMAGES.
Source: Fool.com
Shopify Inc Stock
€53.80
0.320%
Our community is currently high on Shopify Inc with 4 Buy predictions and 0 Sell predictions.
With a target price of 75 € there is a positive potential of 39.41% for Shopify Inc compared to the current price of 53.8 €.
