SHOP

-5.0%🟢 Fundamentally supported

Shopify Inc. Class A subordinate voting shares · Technology

$169.29Vol 15.10M · 1.5× normalMkt cap −$11.39Bafter · 2026-10-16 ET

What happened

Move

-5.0%

Price

$169.29

Volume

15.10M

1.5× normal

Market cap

$217.81B

−$11.39B today

Why it moved

Earnings releasemedium confidence

SHOP Stock Heads For 4th Green Week: Analysts See Up To 10% Upside For Shopify Ahead Of Earnings — finnhub-news
Shopify: Wait For The Next Golden Buying Opportunity (Downgrade) — finnhub-news

Possible catalyst: earnings release, 2.0pp below its sector.

Verdict — was the move justified?

🟢 Fundamentally supported

Earnings release — direction and rough magnitude are consistent with the identified fundamental catalyst.

How unusual is this move

σ score

2.2σ

vs own 20d volatility

Percentile

83th

of 1278 daily moves

Avg daily move

±2.9%

own 5y average

vs sector

-2.0%

beyond sector median

What happened after similar moves

142 similar down moves in SHOP’s 5-year history:

After 5 days

+0.6%

52% higher

After 20 days

+6.5%

63% higher

Median of same-direction moves within ±35% magnitude band. Past patterns don’t predict outcomes — context, not signal.

Fundamental context

V 10G 75P 72H 75Q 72

Valuation context

P/E (TTM)

113.1

5y median 62.8

P/E percentile

86%

vs own 5y history

FCF yield

0.0%

Trading richer than 86% of its own historical valuation range.

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