Why Shopify Stock Is Tumbling Again This Week
Shares of Shopify (NYSE: SHOP) are down some 8.5% compared to where they closed trading last Friday, according to data from S&P Global Market Intelligence, extending a slide that has gone on for more than a month now as investors transition away from early pandemic winners.
Despite Shopify still being considered a quality name on Wall Street, analysts are beginning to think the boom in online shopping that occurred during the pandemic will ease markedly, particularly as concerns grow about the health of the economy. A seasonal spurt in COVID-19 cases and its variants could lead to economic tightening globally.
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Source Fool.com
