Why Shopify's Stock Is Trading Lower Today

Shopify SHOP shares are trading lower on Thursday, after the company withdrew its fiscal year 2020 guidance.

Also, Raymond James analyst Brian Peterson lowered his price target from $600 to $400.

Shopify is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary E-Commerce platform for online stores and retail point-of-sale systems.

Shopify's stock was trading down 11.36% at $340 per share at time of publication. The stock has a 52-week range between $593.89 and $190.38.

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