Previous close | 0.4800 |
Open | 3.4000 |
Bid | 2.5900 |
Ask | 2.6600 |
Strike | 62.00 |
Expiry date | 2024-05-31 |
Day's range | 2.4200 - 3.4000 |
Contract range | N/A |
Volume | |
Open interest | 16 |
Shopify (SHOP) shares are plunging after the company announced it expects decreasing gross margins during the current quarter as it navigates the fallout from the sale of its logistics business to Flexport. Shares fell nearly 20% in extended hours trading, as Shopify also expects its revenue to take a hit. Wall Street is bearish on the stock as the company currently faces higher operating costs and weakened consumer spending. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written and updated by Melanie Riehl
Here are some of the key events to watch for on Wednesday, May 8th. First quarter earnings season continues, with several companies scheduled to release their financial results, including Uber (UBER), Airbnb (ABNB), and AMC Entertainment (AMC). Additionally, Federal Reserve officials, including Fed Vice Chair Philip Jefferson, Boston Fed President Susan Collins, and Fed Governor Lisa Cook, will provide insight into inflation and the path for interest rates. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
Shopify (SHOP) delivered earnings and revenue surprises of 25% and 1.36%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?