Shopify (NYSE: SHOP) has had a great growth story over the years. From less than $1.1 billion in revenue in 2018, the tech company more than quadrupled that tally, hitting $4.6 billion last year. However, for investors, the focus is now on its slowing growth rate and the challenges ahead for the company. Shares of Shopify are down 70% this year (versus just 13% losses for the S&P 500) in what looks to be an endless tailspin.
There are two particular mistakes the company has made in recent years that are causing its investors misery these days.
One of the things I always questioned about the tech company's growth was all the different avenues it was pursuing. It has a successful e-commerce platform that makes it easy for anyone to become a merchant and integrate with a website. But building on that success hasn't been enough -- in 2019, for instance, it went on a tangent and launched Shopify Studios, which is aimed at film and TV production.
Source Fool.com