Why Shopify Stock Fell 10% in March
Shares of Shopify (NYSE: SHOP) slipped 10% in March, according to data from S&P Global Market Intelligence . Concerns about the impact of the novel coronavirus prompted a steep sell-off for the broader market last month, but the e-commerce company's stock managed to hold up better than the S&P 500 index across the stretch.
^SPX data by YCharts.
While concerns about the novel coronavirus and the related COVID-19 respiratory illness have wreaked havoc on many businesses and stocks, Shopify's focus on online retail services and strong growth over the last year have made it relatively resilient. The e-commerce stock has slid roughly 10% year to date, while the S&P 500 index has fallen roughly 23% across the same stretch.
Source Fool.com
