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Investors worried Shopify would suffer a more significant deceleration in revenue following changing consumer behavior.
Shopify's (SHOP 6.17%) stock bounced higher following its third-quarter earnings announcement. The results showed Shopify's revenue grew double-digit amid macroeconomic headwinds. That pleased investors worried about the continued impacts of the economic reopening.
Stock prices used were the afternoon prices of Oct. 27, 2022. The video was published on Oct. 30, 2022.
Parkev Tatevosian has positions in Shopify. The Motley Fool has positions in and recommends 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.
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