Why Shopify Stock Dropped 14% in October
Shares of (NYSE: SHOP) stock sank 13.5% in October according to data provided by S&P Global Market Intelligence. The e-commerce platform stock had investors nervous before the most recent earnings release as macroeconomic and geopolitical factors predicted a bleak retail landscape. However, Shopify reported better-than-expected earnings, and the stock has already completely recovered and climbed even further.
Shopify operates a popular e-commerce platform that millions of merchants use to power their online presence. Although its core product is geared toward small businesses, it has pivoted to targeting enterprise customers with a large range of packages, including single services. These solutions are even more potent for Shopify, since enterprise customers spend more, and expanding its overall business allows it to reach more clients.
Although its basic package is based on turnkey websites with everything ready to bring merchants into the world of e-commerce, it now offers all kinds of payments solutions and services that integrate physical stores with e-commerce functions.
Source Fool.com
Shopify Inc Aktie
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