April 4, 2019 / 3:29 PM / a year ago

BUZZ-Shopify to plunge to $100 within a year - Citron, shares drop

** E-commerce software maker Shopify’s U.S.-listed shares trade lower in heavy volumes after Citron says co to trade lower at $100 in the next 12 months

** U.S.-listed shares of SHOP fall 3.5 pct to its session low of $197.27; stock on track for biggest one-day pct fall in over a month

** If Shopify is trading over $200 in 12 months, Citron will donate $200,000 to the Robin Hood Foundation - Citron

** Short-seller Citron says here the possible entrance of Microsoft into a software-based product will most certainly dampen Shopify's growth outlook

** Citron says a lot has changed in a month for Shopify, citing Facebook’s Instagram checkout launch, Mailchimp’s termination with Shopify, among a few others

** Payment processor Square will put a damper on Shopify’s future growth in the small & medium-sized market - Citron

** Earlier this week, The Information reported that Microsoft plans to create a Shopify competitor

** Over 1.4 mln shares traded, a little over 25-day moving average

** Shopify’s Toronto-listed shares soar ~43 pct YTD, while its New York-listed shares surged ~48 pct

Reporting by Divya R in Bengaluru

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