Will SHOP stock recover after today's 9.6% plunge?

SHOP is down 12.8% from its 3-month high and 12.8% from its 52-week high. Nobody can know if the stock will climb back, but its history provides useful context.

The details below show SHOP's past drops of 20% or more, including how deep each drop went and how long the comeback took.

The chart below tracks SHOP's daily closing price from May 7, 2026 to Nov. 2, 2026. The stock rose 39.8% over that period, moving from $111.74 to $156.22. It reached a high of $179.22 on Oct. 12, 2026 and a low of $95.40 on May 13, 2026.

SHOP's past 20%+ drops and recoveries

The table below shows SHOP's past 20%+ drops and recoveries. The drop on Sept. 11, 2023 was the highest (-28.1%), while the drop on Oct. 29, 2025 was the lowest (-46.7%).

Also worth knowing about SHOP

Live SHOP data, updated every 30 minutes: SHOP insider trades, ownership and filings →

In Shop's own words

“This was a monster quarter: more than 30% growth in GMV AND revenue AND gross profit AND free cash flow”

— Harley Finkelstein, President of Shopify · SEC filing

From the company's earnings release filed with the SEC on 2026-08-05 (Form 8-K).

What would change the picture for SHOP

These are the specific events and levels to watch. None of them represents a prediction.

• The earnings report arrives on Nov. 3, 2026, 0 days away. Shop beat estimates in 3 of the last 4 quarters, with an average surprise of +1.7%. A miss would break that pattern.
• Watch for open-market purchases by Shop insiders. None occurred in the past 90 days, though Form 4 filings must show any trade within two business days.
• Key price levels: a close above $179.22 sets a new 52-week high, standing 14.7% above the latest close of $156.22. Conversely, a close below $95.4 marks a new 52-week low, 38.9% below that latest close.
• Revenue grew 32.5% year over year in the quarter ending Jun 2026, showing a steady trend. With a P/E of 105.6, any growth slowdown would matter more than at a lower multiple.
• Dilution risk currently remains low. However, a new shelf registration (S-3) or a prospectus supplement (424B) for a stock offering would raise that risk.

How SHOP compares with its peers

Over the past month, SHOP ranks 3 of 4 in this group with a +3.2% return. ETSY performed best at +27.0%, while AMZN trailed the group at -2.3%.

SHOP's P/E of 105.6 sits above the peer median of 19.9. Investors pay more for each dollar of profit, typically expecting faster growth.

SHOP history: what happened after similar moves

Since 2023, SHOP fell 10% or more in a month 14 times (separate episodes, not counting the current one). Three months later it was higher in 6 of 13 cases; the median change was -0.0%.

Past moves don't predict the next one; they show how volatile the stock has been.

Questions people also ask

When does Shop report earnings next?

Shop expects its next earnings report on Nov. 3, 2026, 0 days from now. The company beat average estimates in 3 of its last 4 reports.

Are SHOP insiders buying or selling?

According to SEC Form 4 filings, no Shop insider bought or sold SHOP stock on the open market in the last 90 days.

Who is the largest shareholder of SHOP?

Among investment managers filing Form 13F, Capital International Investors reported the largest SHOP position at $6.3 billion. Overall, 1707 institutions reported holding SHOP for Q2 2026.

Is Shop issuing new shares?

Dilution risk reads low (0/100). The company's share count fell 0.8% in a year.

Does SHOP pay a dividend?

Shop reported no dividend payments over the last 12 months in its SEC filings.

Is Shop profitable?

Yes. Shop generated $13.3 billion of revenue over the last 12 months, posting a net margin of 14.5% and a P/E of 105.6.

Dates to watch for SHOP

Insider trades can come any day: they must be filed on Form 4 within two business days.

Key terms on this page

P/E ratio

Price divided by the last 12 months of earnings per share. A P/E of 20 means investors pay $20 for each $1 of yearly profit. It is only defined when the company is profitable.

Form 4

The SEC form a company's officers, directors and 10% owners must file within two business days of buying or selling its stock.

Open-market trade

A purchase or sale on the exchange at the market price, paid with the insider's own money (code P or S on Form 4), as opposed to option exercises, grants or gifts.

Form 13F

A quarterly SEC report listing the U.S. stock holdings of every investment manager with more than $100 million. It is due 45 days after each quarter ends, so it shows positions with a delay.

Dilution

When a company issues new shares, each existing share owns a smaller piece of the company. Common sources: stock offerings, convertible debt and large stock-based pay.

Form 8-K

The SEC form for material events between quarterly reports: earnings releases, deals, executive changes, stock offerings and similar news.

52-week high / low

The highest and lowest daily closing price over the past year (about 252 trading days).

Where these numbers come from

Every number on this page is computed from the data when the page is refreshed (usually daily); nothing is typed in by hand. This is information, not investment advice.

• Price: daily closing prices through Nov. 2, 2026; changes use 5, 21 and 63 trading days; the 52-week range uses the last 252 closes.
• Insider data comes from SEC Form 4 filings covering the last 90 days. It counts only open-market purchases (code P) and sales (code S), excluding option exercises, grants, gifts and filings with data errors.
• Earnings dates and estimates reflect a market-data calendar. The data compares reported versus expected EPS over the last 4 quarters.
• Valuation and growth metrics draw revenue, earnings, margins and share counts from SEC filings (XBRL data, latest quarter Jun 2026). The P/E and price/sales ratios use the latest close.
• Fund ownership data reflects SEC Form 13F filings for Q2 2026.
• Dilution tracking monitors share-count changes and offering-related SEC filings—such as shelf registrations, prospectus supplements and convertible notes—over two years, scoring risk from 0-100.
• History: 21-trading-day moves over about three years of daily closes, counted once per episode.