One of the hardest-hit tech stocks this year has been e-commerce company Shopify (NYSE: SHOP). Down an incredible 70%, the company's drop has made the Nasdaq Composite's 28% decline this year look tame. A troubling outlook for the economy and a slowing growth rate are the key reasons investors have been bearish on the tech stock in 2022.

But with the stock back to trading at 2019 levels, has Shopify bottomed out? Is next year likely to be a stronger one for the business, and would buying the stock today be a good move?

A big problem for Shopify investors is the growth rate. The company's sales for the period ended Sept. 30 totaled $1.4 billion and rose at a relatively modest rate of 22% year over year. A year ago, its growth rate was an impressive 46%.

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Source Fool.com