Shopify Stock- Continued it Decline
Shopify Inc. (NYSE: SHOP) continued its slide for the third day in a row and then declined.
The price of SHOP's stock fell 5.64 percent to close today at $33.05 after hitting the new low.
SHOP Stock- New Low
SHOP Stock- Sells Online
The SHOP share price fell 5.64%. Canadian company that sells online fell after the 10-for-1 stock split.
The split "will allow ownership to be more accessible for all shareholders," the company said in a press release.
SHOP Stock- Allow Ownership
SHOP has lost around 75 percent of its value so this year, as e-commerce traffic declines and investors leave.
SHOP Stock- Investors Leave
Stocks of Shopify famously took off into a frenzy through the midst of the pandemic.
SHOP Stock- Took Off
Then it plummeted all up to $297 just two weeks later before trading higher during the bull market rise.
SHOP Stock- Two Weeks Later
Image Source- Inc Magazine
Shopify's management is obviously hoping that a split of shares makes it more suitable for retail investors.
SHOP Stock- A Share Split
Image Source- Protocol
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