crawfordpaul

SHOP Pre-Earnings Selloff

NYSE:SHOP   Shopify Inc.
Similar action has been seen in shop since July with selling before earnings which presumptively can be accredited to profit taking. The only exception would be February where there was a huge run up in price before the report, a flop in earnings created a large selloff. With board members stepping down, there is some uncertainty around SHOP and the looming earnings report makes for a lot more suspense. Current price action would suggest that under 1076 is discount pricing, though that is subject to change if there is sub par reporting next Friday. Month over month shows only a 1% increase in shares short (now 1,800,000) making up only 1.6% of the shares outstanding. To add to that, a P/C ratio of .57 would suggest that the outlook is more bullish.
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