New York, January 26, 2026, 14:30 EST — Regular session
- Shopify shares dipped roughly 1.2% in afternoon trading, extending their drop to over 12% since mid-January
- This week’s Fed rate decision, coupled with a flood of mega-cap tech earnings, is putting high-growth valuations under the microscope
- Investors are keeping an eye on Shopify’s overhaul of its partner program alongside its latest retail checkout hardware launch
Shares of Shopify Inc. dropped roughly 1.2% to $136.18 Monday afternoon, retreating from an intraday low of $135.89. The stock slipped $1.71 below Friday’s closing price, on volume around 4.1 million shares.
The dip arrives ahead of a packed week, with investors focused on the Federal Reserve and a slew of mega-cap earnings to gauge the outlook for high-growth tech. “Wednesday’s Fed announcement will likely keep politics in the headlines,” said Chris Larkin at E*Trade from Morgan Stanley, as the S&P 500 and Nasdaq gained in early trading. (Reuters)
Shopify’s stock has swung sharply this January, tumbling roughly 13% since its close on Jan. 16 and about 15% from the end of December. The shares have fallen in four of the past five sessions following a steep mid-month drop. (Investing)
Company-specific news has been quieter this week, though investors are still parsing Shopify’s recent shake-up in its partnerships division. The company cut roles in the unit as part of a “restructuring” or “reorganization,” according to LinkedIn posts highlighted by BetaKit. Shopify didn’t say how many jobs were impacted. VP of partnerships Atlee Clark said the firm is “building low-friction systems and investing in high-trust relationships,” as it refocuses the program around an AI push. (BetaKit)
Shopify is focusing on in-store sellers, a crucial growth segment as brands mix online with brick-and-mortar sales. In its January retail update, the company rolled out a new POS Hub — a wired USB gadget designed to make checkout systems more reliable. It also announced a partnership with Verifone to integrate Victa terminals into Shopify POS. (POS, or point of sale, means the checkout technology used in stores.) (Shopify)
Shopify pushed back against legal threats it claims unfairly burden smaller merchants. The company noted that an appeals court upheld a lower court ruling that overturned a $40 million patent verdict tied to Express Mobile. It also indicated it intends to continue contesting similar lawsuits instead of settling. (Shopify)
Shopify’s fundamentals will be under the spotlight when it next reports, following a strong demand update paired with rising costs. The company’s latest quarterly results showed a forecast of mid-to-high twenties percentage revenue growth for the holiday quarter. Still, it flagged that investments in AI and marketing are pressuring margins. Harley Finkelstein, Shopify’s president, noted that their AI assistant Sidekick is “quickly becoming the default way merchants get things done.” (Reuters)
The stock’s immediate risk lies in its rate sensitivity. Even a slight signal that borrowing costs will remain elevated could disrupt the revenue-multiple calculations investors rely on for software stocks, especially following a sharp decline earlier this year.
Peers showed a mixed picture. Wix.com edged up modestly, and Amazon hovered near flat, which left Shopify trailing behind some other e-commerce rivals by the day’s close.
The next major event is Wednesday, when the Fed wraps up its Jan. 27–28 meeting. The policy statement drops at 2:00 p.m. ET, with the press conference kicking off at 2:30 p.m. ET — both moments that can trigger swift moves in rate-sensitive tech shares. (Federalreserve)
