Why Shopify Stock Cratered on Thursday

Shares of Shopify (NYSE: SHOP) slumped on Thursday, losing as much as 8.3%. At 1:56 p.m. ET, the stock was still off 7.4%.

The catalyst that drove the technology stock lower was changes to its app store that had developers seeing red.

Shopify rolled out new algorithms in mid-December that resulted in several updates. In addition to minor changes to image requirements, it also included significant modifications to how the platform recommends apps that help fill out Shopify's robust ecosystem.

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Source Fool.com