Shopify Inc. plunged 17% in Toronto, the most ever, after giving a weaker outlook for growth this year, as online spending resets and consumers face higher inflation.
“The Covid-triggered acceleration of ecommerce that spilled into the first half of 2021 in the form of lockdowns and government stimulus will be absent from 2022,” the Canadian e-commerce firm said in a statement on Wednesday. “There is caution around inflation and consumer spend near term, for the full year.”
