Shares of Shopify (NYSE: SHOP) were sliding today as the e-commerce software company was one of several tech stocks to fall in sympathy with Snap (NYSE: SNAP), which warned that second-quarter results would come in below its earlier guidance and blamed a deteriorating macroeconomic environment for the downward revision. As of 1:35 p.m. ET, Shopify stock was down 10.4%, while Snap had plunged 41.9% at the same time.
This company is operating in the fastest-growing segment of the $10 trillion global payments industry.
Stock splits have no impact on revenue or earnings, nor do they affect the valuation or market capitalization of a business. Not everyone has the money to buy a full share of higher-priced stocks like Tesla (NASDAQ: TSLA) or Shopify (NYSE: SHOP) right now. Of course, short-term tailwinds often make for a poor investment thesis, but Tesla and Shopify are both high-quality businesses with plenty of long-term potential.