Facebook parent Meta crashed on weak earnings and guidance. Spotify also dived. Tech futures sold off after a narrow market rally. Read More...
Motley Fool
Why Shopify Stock Is Tumbling 10% Today
Shares of Shopify (NYSE: SHOP) were tumbling in morning trading Wednesday after peer PayPal (NASDAQ: PYPL) reported disappointing earnings yesterday after the market’s close. As of 10:40 a.m. EST, Shopify’s stock was down 9.5% while PayPal had lost nearly a quarter of its value. Fears of runaway inflation and a recession caused by the Federal Reserve raising interest rates to rein in rising prices have weighed on the retail sector after a lackluster Christmas season.
