SHOP - Shopify Stock Plunges on Disappointing Guidance. Is This a Great Buying Opportunity?
2024-05-12 07:00:00 ET
Shares of Shopify (NYSE: SHOP) sank after the e-commerce software company posted solid first-quarter results, but issued disappointing guidance.
Let's dive into the company's most recent results and guidance to see if investors should buy the dip. The stock is now down about 20% year to date.
Despite the stock's reaction, Shopify turned in some pretty solid first-quarter results. The company grew its revenue 23% to $1.9 billion, or by 29% when adjusting for the sale of its logistics business.
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Shopify Stock Plunges on Disappointing Guidance. Is This a Great Buying Opportunity?