Affirm (AFRM) has around $3 billion in its kitty and a stressed tech sector to shop from.
Now investors can add one more item to the list of concerns: Shopify reported a $1.47 billion net loss in Q1 2022, compared to a $1.26 billion net profit a year ago. During the full-year 2021 financial update a few months ago, Shopify outlined how it would ramp up its investment in its shipping and logistics segment Shopify Fulfillment Network (SFN) in the next couple of years. This concerned some shareholders as Shopify continuously moves away from its ultra-asset-light and profitable e-commerce software business as it tries to woo over more merchants from platforms like Amazon.
An exec of one consumer startup whose stock was hit particularly hard by recession concerns says he’s not giving in to the doom and gloom just yet.