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Why Shopify Crashed 18% This Week

·2-min read
Why Shopify Crashed 18% This Week
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Shares of Shopify (NYSE: SHOP) plummeted 18.2% this week on several bits of news. First, shares fell earlier in the week when revised GDP figures were released, showing that the economy was slowing down slightly more than expected. Additionally, a new report released yesterday, showing that inflation remains stubbornly high despite the Federal Reserve's efforts to bring it down, is likely weighing down on the stock this week.

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