On April 11, Shopify informed investors "that its board approved a proposed 10-for-1 stock split," while also proposing some other key changes to its governance structure. With these moves, the Canadian e-commerce giant intends to make Shopify stock's "ownership more accessible to all investors" and design its governance structure to support continued long-term growth goals. While this news briefly helped SHOP stock recover, the intensifying tech sector selloff soon erased all these gains.