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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