Shopify experienced a significant stock price drop of nearly 20% after releasing a weaker-than-expected guidance for the second quarter, described as 'guidance light'. The company's cautious outlook led to its biggest stock slump since May 2022, with shares closing down at $62.81. Despite beating earnings expectations and reporting a revenue increase of 23% year-over-year to $1.86 billion, slightly above the $1.84 billion estimate, Shopify's forecast for slower sales growth in the high teens for Q2, down from 23% this quarter, disappointed investors. The monthly recurring revenue also saw a 30% increase year-over-year, reaching $151 million. Merchant Solutions revenue was reported at $1.4 billion, surpassing the $1.34 billion estimate.