Shopify founder Tobi Lütke throws shade on the analysts who are down on his company

Shopify’s share price skyrocketed during the pandemic, peaking at about $2,140 on Nov. 19, 2021, compared with about $700 in mid-February 2020. But investors have grown less enthusiastic about companies that put growth ahead of profits. Shopify dropped about 21 per cent last week, wiping out all of its pandemic gains. The stock was down another six per cent at midday in Toronto on May 9, trading around $455 amid a broader market decline.

But Lütke said the role could be more transparent, alleging that analysts often mask their failures with jargon.

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