Shopify Drops as Outlook Implies Slower Growth, Rising Costs

Shopify Inc. shares slumped as the company’s outlook suggests its revenue growth pace may be slowing, while higher costs may dampen second-quarter profitability.

The stock dropped as much as 11%, and were 9.3% lower as of 11:08 a.m. in New York. The shares were down 21% this year through Monday’s close.