Shopify Declines 12.5% Year to Date: Buy, Sell or Hold SHOP Shares?
Shopify(SHOP) ZACKS·2024-09-12 00:45
Shopify (SHOP) shares have lost 12.5% year to date, underperforming both the Zacks Computer & Technology sector and the Zacks Internet Services industry. Over the same timeframe, the sector and industry have gained 13.6% and 4.7%, respectively. The underperformance in SHOP’s shares can be attributed to challenging macroeconomic conditions that have negatively impacted small and medium businesses, which form its major merchant base. This cohort has been suffering from persistent inflation.Nevertheless, Shopi ...