Shopify tumbles on weak outlook after a very strong start to 2024

Shopify’s stock is poised to potentially tumble to an all-time low on Wednesday as the Canadian company gave a disappointing second-quarter forecast that includes easing revenue growth and thinner margins. Shopify Inc., which provides technology infrastructure to help businesses sell their goods online, predicts its revenue will climb by a high-teens percentage rate for the second quarter. In contrast, sales increased 23% in the first quarter.