Shopify Falls for Eighth Day, Stock’s Longest Streak of Declines
Photographer: Kevin Van Paassen/Bloomberg
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Shopify Inc. fell for an eighth consecutive day, its longest streak of declines ever, amid a broader slump in tech stocks. Shares fell as much as 8.4%, the most since June.
It’s not enough to knock the e-commerce company from its perch near the top of Canada’s S&P/TSX Composite Index, where it’s currently the fifth-best performer year-to-date. However, the ongoing investor rotation from growth to value doesn’t appear to be losing steam, which means further declines could be in store for Shopify.