Canadian e-commerce service Shopify (SHOP) was a certified pandemic-era darling, with its stock price soaring as high as $1,690.60 per share in November 2021.
But high-flying inflation, a pullback in consumer spending online compared to during the pandemic, and increased competition are punishing the company, sending shares of Shopify plummeting 76% year-to-date to $331.42 at the start of trading Monday.
Shopify’s woes aren’t unique. The company is just one of a host of big-name firms…
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