Due to the weak trend, Shopify shares are declining
The stock of the Canadian e-commerce company Shopify lost 19.3% during today’s trading after the company expected its revenues and profits to decline during the current quarter, which raised concerns among investors, as the company’s shares reached $62.20.
Shopify shares achieved 20 cents in the first quarter, compared to 17 cents that was expected, and the company’s revenues amounted to $1.86 billion, compared to $1.85 billion that was expected by the London Stock Exchange Group.
The Canadian e-commerce company expects second-quarter revenue to grow more than 15% year over year, which is in line with consensus estimates for 19.5% growth, but still a slowdown from recent quarters. (Forbes)
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