Shopify Under Pressure After Mixed Securities Shelf Offering

Shopify Inc (US) SHOP shares were trading lower by $2.15 at $87.69 in Thursday's session.

Investors are expressing caution over the potential dilutive effect of its recently registered $2.5 billion mixed securities shelf offering.

After a much lower open, Shopify's stock cratered to $81.00 before embarking a major rebound. That low matches its May 4 low of $81.04.

So far, the vicious rebound of that low has taken the issue to $88.87 as of 10:24 a.m. EST. In order, to fill the void in price and reach the lower-end of Wednesday's range, it would need to reach $89.57.