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Simplewind
2022-04-11

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Shopify Shares Climbed over 3% in Morning Trading

Shopify shares climbed over 3% in morning trading as Shopify planned 10-for-1 split of common stock.

Shopify Shares Climbed over 3% in Morning Trading

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Lyra83
·2022-04-11
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Under the plan, Lutke, his family and his affiliates would together retain 40% of the votes at the company, even as their ownership share changes.</p><p>Lutke would have to give up his founder share if he’s no longer with the company as an executive, director or consultant, Ottawa-based Shopify said in a statement Monday. He wouldn’t be allowed to transfer it to anyone else.</p><p>Shopify soared above C$250 billion ($198 billion) in market value during the pandemic as online selling took off, but it has given back most of those gains.</p><p>The shares are down 56% this year amid a selloff in richly valued technology stocks -- costing Lutke $6.3 billion in personal wealth. 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