Why Shopify Stock Is Down Sharply on Tuesday
Shares of e-commerce platform provider Shopify (NYSE: SHOP) took a hit on Tuesday, extending a bearish trend for shares this year. The growth stock is likely down due to a combination of a tough day in the overall market and another price-target cut on Shopify shares from an analyst. KeyBanc analyst Josh Beck lowered his price target for the stock on Tuesday, dropping it from $1,750 to $1,250.