We Are Investment Thesis Shopify's (NYSE:SHOP) has dropped 20% over the past month after a strong 1Q FY2024 earnings. This selloff was largely due to a weak forward guidance, even though revenue and EPS beat expectations in the last quarter. Unsurprisingly, the stock's premium valuation indicated high expectations going into the quarter, making it vulnerable to a weak forward guidance. In my previous analysis, I initiated a neutral rating on the stock and raised concerns that a valuation of over 10x EV/ ...