A prognosticator's update on e-commerce stocks doesn't shine a favorable light on the company.
One of the hardest-hit tech stocks this year has been e-commerce company Shopify (NYSE: SHOP). Down an incredible 70%, the company's drop has made the Nasdaq Composite's 28% decline this year look tame. A troubling outlook for the economy and a slowing growth rate are the key reasons investors have been bearish on the tech stock in 2022.
(Bloomberg) -- The curse of Canadian mega-cap technology stocks hit Shopify Inc. this year, and analysts see little relief ahead for the e-commerce company’s shareholders. Most Read from BloombergPutin Calls Russian Nukes Deterrent Factor, Says War Risk RisingPeru’s President Accused of Coup After Move to Dissolve CongressMusk Spars With San Francisco Over Probe of Bedrooms at TwitterStock Traders Skittish With Worrisome Bond Signals: Markets WrapWhy Did So Many US Men Quit Working? Social Statu