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Why Shopify Stock Was Slumping Today

Why Shopify Stock Was Slumping Today

Shares of Shopify (NYSE: SHOP) were pulling back today on a pair of conflicting analyst notes on the stock. Additionally, the broader sell-off in tech stocks today also seemed to weigh on Shopify shares. Pinpointing the threat from Amazon's Buy with Prime program that is set to roll out to all eligible vendors tomorrow, UBS analyst Kunal Madhukar reiterated a sell rating on Shopify.