Why Shopify Stock Was Sliding Today - The Motley Fool
Quick Read
A strong initial unemployment claims report seemed to feed the bearish sentiment, signaling that the Federal Reserve may have a ways to go in order to bring inflation under control as the economy is still running hot.
The Federal Reserve warned that it expected to continue raising rates and leave them at a high level in order to bring inflation under control.
Its growth rate has slowed dramatically as the pandemic tailwinds have faded, and investors are worried that Amazon's Buy with Prime platform could kneecap its most valuable revenue stream, payments.
The stock is down more than 80% from its peak, but Shopify will have to convince investors that it can accelerate its growth again in a post-pandemic world in order for the stock to bounce back.
20%) were falling today in another risk-off day for the stock market.
Rising interest rates have impacted growth stocks more than other stocks because higher interest rates make profits in the future worth less since the discount rate in financial models rises.
So what
Stocks have been drifting lower since last week's fed funds rate hike.
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