Content Plus: Why Shopify Stock Was Tumbling Again Today

The Snap cut guide has brought Shopify down as well.

What happened

Shopify shares (SHOP -11.05%) were slipping away today as the e-commerce software company was one of the few Snap-sensitive technology stocks (SNAP -41.68%), warning that second-quarter results would fall short. a previous direction also blamed a major economic downturn on the downtrend review. While it may seem surprising that Shopify has fallen out of the news, the two companies are more closely linked than you might think.

Why Shopify Stock Was Tumbling

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From 1:35 p.m. ET, Shopify stock fell 10.4%, while Snap fell 41.9% at the same time.

So what

Digital stocks on both social media and advertising technology fell across the board, but Shopify was also one of the stocks we should hit. Its 1.75 million retailers count on social media to further their product demand so if Snap meets the demand, it is likely that at least some of that is coming from Shopify retailers.

Shopify retailers also have a close relationship with Facebook advertising for Meta Platforms, and the decline in ad spending across the industry will be associated with a decrease in Shopify sales.

In addition to the strong winds associated with rising interest rates and inflation, consumer spending is lagging behind in goods and services, which is expected to be a challenge for Shopify and its e-commerce peers as the company does not benefit from spending money on the go. or restaurants.

Now what

As a major component of the fast-growing technology sector, Shopify stock has declined sharply in recent months, falling nearly 80% from its peak last November. However, Shopify's direction in their first quarter earnings report provided some reason for optimism. The company said revenue growth will improve from the first quarter points of 22% in the second quarter and its best quarter is expected to reach the fourth quarter.

Well, the direction is always changing, but Shopify will enjoy easy comparisons as the year progresses. Whether the Snap warning will appear to be accurate remains to be seen, but the recent market turmoil could take months.

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