Why Shopify Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Shopify Inc. (NYSE:SHOP) shares are trading lower along with other tech stocks due to the weakness observed in Netflix and Tesla following their quarterly reports. Shopify is set to report its Q2 financial results on Aug. 2, with estimated earnings of six cents per share and revenue of $1.62 billion. At the time of publication, shares of SHOP were down 4.52% at $65.15.
July 20, 2023 | 7:56 pm
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Shopify's stock is trading lower due to the impact of Netflix and Tesla's quarterly reports. The company is set to report its Q2 results on Aug. 2.
The stock price of Shopify is being influenced by the performance of other tech stocks, specifically Netflix and Tesla, which have released their quarterly reports. The anticipation of Shopify's own Q2 results also plays a role in the current stock price.
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