Shopify (NYSE: SHOP) stock reversed pandemic-led gains and is trading about 79% lower from the 52-week high. The reopening of physical retail, tough year-over-year comparisons, and pressure on margins from its aggressive investments led investors to turn their back on Shopify stock.  Besides a slowdown in growth, factors impacting consumer spending like record-high inflation and rising interest rates weighed on the shares of this cloud-based e-commerce platform provider.  However, as Shopify stock has declined quite a lot, it looks attractive at current price levels. But before jumping to any conclusion, let’s dig deeper to ascertain what the future holds for Shopify.
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