No. of Recommendations: 33
Shop is dropping now partly because of a downgrade from Goldman Sachs. As of the end of March, they owned a little over 157,000 shares. I can vouch from their shenanigans in the past that within a week, their share count will have most likely have tripled. The same thing happened with AMD and countless other companies.

One important thing is that SHOP will be added to the S&P/TSX Composite Index aftermarket on June 16th. Goldman Sachs is using its analyst downgrade to load up on more shares prior to this event which will have a noticeable impact on the stock price. The use of analysts like this by major financial institutions needs to stop, it is starting to get ridiculous. If GS was short Shopify and they downgraded it and had their money where their mouth was, fine. Same thing if they upgraded it and were long on the stock. Ideally analysts and the organization they represented wouldn't have any position in the stocks they cover. The problem is when GS, and to a lesser extent JP Morgan Chase and others, downgrade a stock so they can buy it cheaper, and continue upgrading a stock that's way overvalued as they're dumping all of their shares. It really goes too far.

I would predict that if we aren't at the bottom right now, we'll definitely be at the bottom prior to the addition to that index and it will go up from there. There is some pretty heavy manipulation right now on this stock, which is understandable given its fast rise. Large pullbacks aren't easy, but that is the risk of any rapidly growing stock though, it's going to happen.
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