Shopify stock skids 10% as AI jitters hammer software shares ahead of earnings
Shopify shares fell 10.5% to $118.28 by early afternoon Tuesday amid a sharp selloff in software and cloud stocks. The drop followed concerns that new AI tools could erode pricing power in the sector. Investors are focused on Shopify’s earnings and guidance set for Feb. 11. New partner and API rules take effect Feb. 27.