Shopify stock drops nearly 9% after guidance rescinded [MarketWatch]
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
Last shopify inc. class a subordinate voting shares earnings: 2/12 07:00 am
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investors.shopify.com/home/default.aspx
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Source: MarketWatch
Shopify stock drops nearly 9% after guidance rescinded Shopify Inc. SHOP, -9.97% shares dropped 8.8% Thursday, after the e-commerce company rescinded its annual guidance because of the coronavirus pandemic. In a news release Wednesday evening, the Canadian company said that it would hit or exceed its first-quarter forecast due to strong results in January and February, but was suspending its full-year guidance "given the uncertainty surrounding the duration and magnitude of COVID-19." Shopify, which offers software and services to help manage retail operations, had projected that 2020 revenue would top $2 billion, with a forecast range of $2.13 billion to $2.16 billion, after recording sales of $1.58 billion in 2019. Shares nearly tripled in 2019, gaining 187%, but the stock is now down 11.7% so far this year including Thursday's decline. Shopify also said it expects to report full first-quarter earnings information on May 6.
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SHOP
News
- How will the changes to capital gains in Canada affect tech sector? [MoneySense]MoneySense
- Why the Market Dipped But Shopify (SHOP) Gained Today [Yahoo! Finance]Yahoo! Finance
- Tech industry warns capital gains proposals could cause ‘irreparable harm’ [Investment Executive - News]Investment Executive - News
- Shopify Inc. (NYSE: SHOP) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Canadian Businesses Say Tax Hike Risks Deeper Productivity Slump [Financial Post (Toronto, Ontario, Canada)]Financial Post
SHOP
Earnings
- 2/13/24 - Beat
SHOP
Sec Filings
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- SHOP's page on the SEC website