BUZZ-Shopify shares fall as Rosenblatt says investor concerns over Meta Pay are exaggerated

September 23 - ** E-commerce company Shopify SHOP.O saw its US-listed shares fall 5.8% in early trading to $139.11

** Security researcher and former Meta META.O employee Jane Wong posted a (link) screenshot on X, showing that on the Muse checkout page, Meta Pay was listed as a payment option alongside Stripe's Link and Shop Pay

** Rosenblatt stated that investor panic led to the drop in SHOP's share price; Meta Pay does not appear to be a new payment method, but rather an extension of Meta's existing e-wallet to the Muse shopping experience

** "In its current form, Meta Pay does not seem to pose a disruptive threat to Shopify Payments or Shop Pay" — a brokerage

** After the Canadian company announced a partnership with Meta in the AI-driven shopping sector, SHOP shares had risen in the previous two trading days (link)

** As of the close of the previous trading day, SHOP is down about 8% year-to-date

(To assist non-English speakers, Reuters has automated the translation of its reports into several other languages. Because automated translation may contain errors or lack necessary context, Reuters does not guarantee the accuracy of such translations and provides them solely for reader convenience. Reuters accepts no liability for any damage or loss arising from use of this automated translation function.)