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Shopify Falls on Surprise Loss, Hit From Logistics Unit Sale

After rallying more than 120 percent last year, Shopify shares have struggled this year after the company had projected higher operating costs than expected for this quarter.
Shopify Inc. stocks tumbled after giving a sales outlook for the start of the year that fell short of analysts’ estimates, a sign that it face an uneven recovery from last year’s rout.
The company posted a loss of $273 million after a profit of $68 million a year earlier. (Shutterstock)

Shopify Inc. shares tumbled after the Canadian e-commerce company reported a surprise net loss in the first quarter after the sale of its logistics business last year.

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