Why Shopify's Shares Slid 28% in February
Shares of Shopify (NYSE: SHOP) fell by 28% in February, according to data provided by S&P Global Market Intelligence. This sharp plunge means that the e-commerce platform-provider's shares have lost nearly half their value since the beginning of the year.
Shopify capped fiscal year 2021 (FY2021) with a stellar set of earnings, buoyed by the sharp surge in the number of merchants joining its platform as a result of the pandemic. Total revenue increased by 57% year over year to $4.6 billion, while operating income nearly tripled year over year to $268.6 million.
Gross merchandise value (GMV) climbed by 47% year over year to $175.4 billion. Over at Shopify's payment portal, gross payments volume increased by 45% year over year to $27.7 billion with a 51% GMV penetration, up from 46% a year ago.
Source Fool.com
