Shopify Shares Dip After Company Warns Of Slowing Growth
(MENAFN - Baystreet.ca) Shares of Canadian e-commerce giant Shopify (TSX:SHOP) are slumping after the company warned that its growth rate will slow in 2021. Shopify said that its revenue will not grow as rapidly this year as in 2020, when it increased 86% to $2.93 billion U.S. The company didn't give guidance on earnings for the current year, a move that disappointed investors and analysts. Shopify added that the arrival of vaccines could see some consumer spending rotate back to bricks-and-mortar retailers and away from online shopping. Shopify's stock price fell as much as 7% to $1,377...
Source: menafn.com