The next in line is electric-vehicle powerhouse Tesla (NASDAQ: TSLA). Its investors just approved a 3-for-1 stock split, which is set to take effect at the close of trading on Aug. 24. The split adds no real value to Tesla as a company.
Shares of Shopify (NYSE: SHOP) fell 7.6% on Tuesday after a worrisome report from Reuters warned that the e-commerce platform's customer gains could be stalling. Shopify gained just 71,000 merchants in the first half of 2022, according to research firm YipitData. "Unless Shopify adds roughly twice as many merchants in the second half of 2022 as the first half, we estimate they could be on pace for the lowest net merchant additions in a year since at least 2018," YipitData's analysts told Reuters.
Making the necessary changes to its business model should make the company stronger in the long run.