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Shopify Slides Even as Analysts Back $450 Million 6 River Deal

Sept. 10, 2019, 2:16 PM

Shopify Inc. slid after announcing the purchase of 6 River Systems Inc. even after analysts said the deal would help ramp up its $1 billion plan to set up a network of fulfillment centers in the U.S.

The Ottawa-based company disclosed the purchase of 6 River on Monday for $450 million, with 60% of that in cash and the rest in voting shares, according to a statement from both companies. Shopify fell as much as 4.9% in New York to the lowest in a month, extending the stock’s slump for a third day.

Waltham, Massachusetts-based 6 River uses robots ...