Shopify (SHOP) closed the most recent trading day at $27.85, moving -1.42% from the previous trading session.
The Federal Reserve just raised interest rates by 75 basis points for the third consecutive time and promised to continue raising them for the foreseeable future. It also intends to continue selling the trillions of dollars in U.S. Treasuries it has accumulated over the last 15 years during its period of "quantitative easing," so the stock market is anticipating the Fed will knock the economy into an official recession. Investors rightly get nervous from the uncertainty these market conditions create, yet those who are savvy enough understand just what a stock market sell-off represents.
Zacks.com users have recently been watching Shopify (SHOP) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.