RE:RE:pull back, try again
Shares of Shopify finished lower by 6% as the e-commerce storefront and services provider's investors reacted to reports that the Trump administration might make a policy move that would potentially deal a blow to a wide swath of the online retail industry. The White House could withdraw from a treaty that gives China the right to ship packages to the U.S. at discounted rates, furthering the president's recent efforts to put pressure on Chinese trade. Given how many e-commerce retailers import goods from China, Shopify shareholders worry that the resulting financial hit could carry over to their company. Even though stock analysts at Baird thought the move didn't make sense, investors nevertheless remained concerned about the potential impact on what has been extremely strong growth at Shopify.