E-commerce sector down, bracing for Amazon result
$Shopify(SHOP.US$ is now trading below the support level (58) once again and starting of the day this was at 62 USD!
$Etsy Inc(ETSY.US$ reported today his quarter results, losing (as now) 9% of his value. This drag $Shopify(SHOP.US$ down almost 6% and all eyes are now pointing at $Amazon(AMZN.US$ but I wonder how much worse this stock can go.
After all $Shopify(SHOP.US$ is more than 26% below that 77.9 USD that was the price at the end of December and almost 38% lower than his February peak price.
The stock wasn't already going that well without the need of further pushes.
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Kraks OP : When I think that the bottom has been reached it surprises me with a new drop
Kraks OP : $Shopify (SHOP.US)$ first has lost 5% in sympathy with $Etsy Inc (ETSY.US)$ then other 3% in sympathy with $Amazon (AMZN.US)$ .
And it's not sure what is going to happen tomorrow!