Shopify’s (SHOP) Stock Price Soars As Short Seller Throws in the Towel
Mat Litalien, 11 January 2020
Since going public, Shopify (TSX:SHOP)(NYSE:SHOP) has been one of Canada’s most prolific stocks. Shareholders who were lucky enough to get in on the company at its IPO price would be sitting on gains in excess of 1,450%! One of the downsides of being an industry disruptor and one of the top performers as that there will always be skeptics.
In the markets, these skeptics take many forms, but one of the most polarizing is the short seller, which is a bearish investors who makes significant bets against the company. In extreme cases, a short seller will spend considerable time and effort trying to market their bearish outlook to the masses. In Shopify’s case, it was attacked repeatedly by notable short seller Andrew Left, Managing Partner at Citron Research. Citron is known for making big marketing splashes.
