RTTNews | Oct 22, 2021 10:31AM EDT

10:30 Friday, October 22, 2021 (RTTNews.com) - The Canada-based commerce-focussed tech company, Shopify Inc. (SHOP), is trading 5% lower in the market despite the company not reporting any corporate-specific news that could move the shares.

The company reached its month-long high on October 20 after a 10-day long continuous upward movement.

On Thursday, another e-payment company, Paypal (PYPL) was reported to be in talks of snapping up social media platform, Pinterest (PIN) according to Reuters. The report also claimed that this could enable Paypal to start its own e-commerce marketplace to rival the likes of Shopify.

The stock is currently trading at $1,438.38, down $58.33 or 3.90% since the previous close at $1,496.71. The stock opened at $1,470.00 in the morning. In the 52-week period, the shares have ranged between $875.00 and 1,650.00 per share.

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