Can Shopify's Stock Catch a Break?

By Jose Najarro – May 27, 2022 at 10:00AM

NYSE: SHOP

Shopify

Market Cap

$96B

Today's Change

(3.42%) $2.46

Current Price

$74.46

Price as of May 3, 2024, 4:00 p.m. ET

Shopify's stock price has dropped over 70%, but is it all bad?

Today's video focuses on Shopify (SHOP 3.42%) and the most recent short-term bearish news affecting its stock price, from Snap's (SNAP -0.31%) recent market commentary to Amazon's (AMZN 0.81%) latest distribution center reports. While it may be true that Shopify can continue to be volatile in the upcoming months, I believe the long-term bullish thesis is still intact.

*Stock prices used were the market prices of May 25, 2022. The video was published on May 25, 2022.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jose Najarro has positions in Shopify and Snap Inc. The Motley Fool has positions in and recommends Amazon and Shopify. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy. Jose is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.