On June 10, Shopify fell 3.21% in regular trading, trading at $108.17/share, with trading volume of $56.67 million.

On the news front, renewed concerns over AI posing an existential threat to the traditional software industry triggered broad-based selling across the Internet Services & Infrastructure sector, dragging down individual stocks. CoreWeave fell 0.65%, Cloudflare fell 0.90%, Applied Digital fell 0.49%, Snowflake fell 0.43%, and Akamai fell 0.89%.

Despite Shopify's $5 billion share buyback plan officially launching on June 8 — with the board having approved an additional $3 billion in authorization on top of the existing program under which $1.45 billion had already been repurchased — the positive catalyst failed to offset prevailing industry selling pressure. The stock had surged over 5% on the prior trading day boosted by the buyback launch, but sector-wide headwinds once again dominated market sentiment, limiting the buyback's supportive effect and extending the pullback.

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