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Shopify (SHOP) stock crashed on May 5 after the e-commerce giant posted a better-than-expected Q1.
Shopify's Q2 revenue guidance signals a slowdown to high-twenties growth from 34% in Q1.
KEY POINTS
- Barchart currently rates Shopify stock as '80% SELL' based on major technical indicators.
- Shopify's put-to-call options ratio for July suggests potential downside of nearly 20% to $88.
- Company insiders have mainly sold Shopify shares over the past year, signaling reduced confidence.
- Despite recent declines, Shopify is still trading at approximately 94x forward earnings.
COMPANIES
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