The Real Reason Shopify Chose to Exit the Logistics Business

By Parkev Tatevosian, CFA – May 23, 2023 at 8:00AM

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 is selling its logistics business to Flexport in an all-stock deal.

Shopify (SHOP 3.42%) invested billions of dollars ramping up its logistics business only to sell it before it had a chance to develop completely.

*Stock prices used were the afternoon prices of May 19, 2023. The video was published on May 21, 2023.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool has a disclosure policy. Parkev Tatevosian 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.