Why Shopify Lost 80% of Its Market Cap
It has been a fruitful ride for long-term Shopify (NYSE: SHOP) investors. Since its IPO, the stock has risen by more than 1,300%, turning $1 into more than $14. Recent investors, however, face a different fate altogether. Anyone who bought the stock 12 months ago would have lost more than 70%.
Frustrated investors (especially the newcomers) probably want to know what caused the recent plunge in the value of Shopify shares. While we cannot be sure, here are some potential reasons.
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Source Fool.com
