Shares of Shopify Inc (SHOP) are trading -16% lower at a price of $30.69 at the time of this writing.

Shopify Inc has been trading between a 52-week high of $176.29 and a 52-week low of $29.72. The stock has a market cap of $3.7 Billion.

Shopify is a leading global commerce company, providing trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Headquartered in Ottawa, Canada, Shopify powers over one million businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, PepsiCo, Staples and many more.

Internal memo: Shopify plans to cut around 1,000 workers, or 10% of its global workforce, citing consumers pulling back from online shopping (Vipal Monga/Wall Street Journal)
Techmeme 07-26-22

Shopify to Lay Off 10% of Workers in Broad Shake-Up
The Wall Street Journal 07-26-22

Futures Fizzle As Walmart Warning Batters Bear Market Rally
Zero Hedge 07-26-22

Hard-Hit Shopify Stock Looks For 2023 Payoff From Investments
Investor''s Business Daily 07-26-22

Shopify Q2 2022 Earnings Conference Call On July 27, 2022 At 08:30 AM ET
Benzinga 07-26-22


As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

VacationLover1 - 53 upvotes - source
Walmart Put holders can finally shop at Whole Foods

VisualMod - 16 upvotes - source
>\*Shopify to Lay Off 1,000 Workers, or 10% of Its Employees -- CEO Memo -- WSJ $SHOP ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2022-07-26 ^08:37:40 ^EDT-0400

Gewoongary - 15 upvotes - source
So SHOP lay off 10% of their workers. All of that amidst a strong labor market 

peekadeek - 11 upvotes - source
SHOP: how does 20% of my market cap sound for a 10% layoff?

brook___trout - 10 upvotes - source
SHOP after falling 80%: “I can go lower”

likelamike - 9 upvotes - source
$SHOP laying off 10% of its work force

chikenbeer - 9 upvotes - source
Walmart is the economy because that's where the poors shop and work, and america is 90% poors.

Deep_Bit5618 - 9 upvotes - source
After Wal Mart and Shop we should be a lot MORE RED than we are. Everyone waiting for the - or + 2% change after Fed decision tomorrow

VisualMod - 8 upvotes - source
>U.S. LISTED SHARES OF SHOPIFY EXTEND LOSSES PREMARKET, LAST DOWN ABOUT 11% $SHOP [twitter.com/DeItaone/statu…](https://t.co/PY7pvDQ6Ub) ^\*Walter ^Bloomberg ^[@DeItaone](http://twitter.com/DeItaone) ^at ^2022-07-26 ^08:46:21 ^EDT-0400

Throwaway1021920087 - 8 upvotes - source
I think there is a business opportunity opening a superstore like walmart but for people too poor to shop at walmart