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Why Shopify Stock Dropped Today

TheMotleyFool

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Why Shopify Stock Dropped TodayPhoto, wide shot, wide-angle lens, Retail store, Midday, harsh overhead sunlight, directional sunlightt, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/add1012b-1b24-4eb2-aba0-77ab52c7f8ad.png

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

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