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Why Shopify Stock Plunged Today

TheMotleyFool

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Shares of Shopify (NYSE: SHOP) fell 14.9% on Thursday after the commerce platform reported a marked deceleration in its key growth metrics.

Shopify's revenue rose by 22% year over year to $1.2 billion in the first quarter. That's down from 41% growth in Q4 and a staggering 110% increase in the year-ago period.

COVID-19 accelerated e-commerce growth in the U.S. and many international markets during the initial stages of the pandemic. But with coronavirus-related restrictions easing, many people are returning to traditional retail stores and shopping less online.

Source Fool.com

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