Shopify Seeks to Protect CEO’s Voting Power, Split Stock

Shopify Inc. is asking investors to approve changes to its complex share structure to protect the voting power of the Canadian technology company’s leader. The company also is proposing a 10-for-1 stock split.

The e-commerce company’s shares, which surged above $1,600 last year during the pandemic, have fallen about 55% so far this year. They closed Friday at $603.18 on the New York Stock Exchange, giving the company a $76 billion market valuation. Shares rose less than 2% in premarket trading Monday.

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