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Why Stitch Fix, Sea Limited, and MercadoLibre Were Pulling Back Today

Jeremy Bowman, The Motley Fool
·4-min read
Why Stitch Fix, Sea Limited, and MercadoLibre Were Pulling Back Today
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Shares of high-flying e-commerce stocks including Stitch Fix (NASDAQ: SFIX), Sea Limited (NYSE: SE), and MercadoLibre (NASDAQ: MELI) were falling today on a broader sell-off in tech stocks. There was no major news out on any of these companies but they were likely falling in sympathy with Shopify (NYSE: SHOP), the e-commerce software company, which reported strong fourth-quarter earnings this morning but also warned that revenue growth would slow in 2021 as vaccines roll out, foreshadowing a slowdown across the e-commerce sector. As of 12:43 p.m. EST, Stitch Fix was down 8.3%, Sea Limited had fallen 4.1%, and MercadoLibre shares were off 3.6%.