Shopify (SHOP) launches POS Go to meet the rising demand for point-of-sales software solutions demanded by retail merchants to compete with the e-commerce market.
Shares of Shopify (NYSE: SHOP) were falling today in another risk-off day for the stock market. A strong initial unemployment claims report seemed to feed the bearish sentiment, signaling that the Federal Reserve may have a ways to go in order to bring inflation under control as the economy is still running hot. As an unprofitable growth stock, Shopify is more sensitive to the macroeconomic climate than most stocks, and it also has direct exposure to consumer spending, making it different from most of the software-as-a-service (SaaS) sector.
Shopify (NYSE: SHOP), a leading e-commerce solutions provider, has seen its share price plunge by more than 80% from its peak of $176. The stock price correction will attract bargain hunters, but is Shopify stock a buy now? Shopify has had a phenomenal run.