Top 5 Losers Today

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In this article, we take a look at five stocks that are losing today. If you want to take a look at some more stocks that are declining on Thursday and the latest market situation, go to Top 10 Losers Today.

5. Shopify Inc. (NYSE:SHOP) has slumped 5.42% as of 11:52 AM ET after the target price of the Canadian e-commerce company was lowered by over 26.4% to $625 by Darren Aftahi at Roth Capital. The target price reflects a modest upside of over 19% from yesterday’s closing price. Despite the significant cut in the target price, the analyst maintained a Neutral rating on Shopify Inc. (NYSE:SHOP) stock and highlighted that the risk and reward are not very attractive ahead of the quarterly results expected on May 5. ARK Investment Management was the leading investor in Shopify Inc. (NYSE:SHOP) during Q1 2022.

Of the 924 hedge funds in Insider Monkey’s database, Shopify Inc. (NYSE:SHOP) was held by 86 hedge funds as of Q4 2021.

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