SHOP - Here's Why Shopify Tumbled 18% in September
2023-10-09 11:43:26 ET
Shares of e-commerce disruptor Shopify (NYSE: SHOP) fell 17.9% last month, according to S&P Global Market Intelligence . Shopify's woes from August's disappointing earnings report extended into September thanks to weak economic data for retailers and consumer stocks.
Things were pretty quiet on the news front for Shopify in September. The biggest headlines were those covering the successful IPO of Klaviyo (NYSE: KVYO) , which was earlier funded by Shopify's venture arm. Shopify owned more than 10% of the $8 billion marketing software leader, but the long-anticipated IPO wasn't enough to move the needle.
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Here's Why Shopify Tumbled 18% in September