Shopify Stock Split: What the Charts Say Ahead of 10-for-1 Split

Not a lot of positives surround Shopify  (SHOP) – Get Shopify Inc. Class A Subordinate Report at the moment. Unfortunately for many investors, that disappointment is not limited to just Shopify, but also includes most growth stocks at the moment.

Many growth stocks are down 60% to 70% or more. Several have seen their stock prices decline by more than 80%.

For Shopify specifically, the stock was hitting all-time highs in November and was then down 82% just six months later.

In that respect — with the stock going from roughly $1,760 down to $300 — some are likely wondering why Shopify is going through with its planned 10-for-1 stock split, which will take effect on June 28 and begin trading on a split-adjusted basis on June 29.

Source: https://www.thestreet.com/investing/trading-shopify-stock-ahead-of-10-for-1-stock-split-technical-analysis-june-2022?puc=yahoo&cm_ven=YAHOO&yptr=yahoo