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Shopify’s Stock Tanked 73% This Year. What Happened?

The precipitous decline of an e-commerce darling.

Shopify Plummets Most Since 2020 on Slowing Growth Outlook
Photographer: Gabby Jones/Bloomberg

Shopify Inc.’s market cap has plunged 73% since a certain business magazine hailed the company on its cover in December. So what’s ailing the so-called “Everywhere Store?” But first…

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