Thomas Franck, 26 March 2018
Citron Research’s Andrew Left, who’s gained notoriety for successful bets against companies such as Valeant Pharmaceuticals, on Monday posted a new bearish report on Shopify. Shares of Shopify fell more than 3 percent after Left disparaged the relationship between Shopify and Facebook as an “unholy alliance,” based on the exchange of personal information collected by Facebook and sold to Shopify “entrepreneurs.”
Founded in 2004, Shopify’s software helps merchants run their businesses across a variety of platforms, including web, social media storefronts, and brick-and-mortar pop-up shops. It assists merchants in managing products, processing orders and analyzing customer trends.
