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Why Shopify Stock Fell More Than 5% This Morning

·2 min read
Why Shopify Stock Fell More Than 5% This Morning
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Shares of e-commerce technology-darling Shopify (NYSE: SHOP) were down 7.6% today as of 11:50 a.m. ET. The broader market indices had clawed back steep early losses, but no such luck for Shopify, as richly valued names continue to get punished. The drop is particularly confounding because Shopify just inked a deal with Chinese e-commerce giant JD.com (NASDAQ: JD).