SHOP drawdown: 11.4% below the all-time high
Shopify Inc. (SHOP) is 11.4% below its all-time high, set Oct 29, 2025 (as of market close, Aug 13, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (2015).
- Below all-time high
- −11.4%
- 88.6% of ATH
- All-time high
- $179.0
- Oct 29, 2025
- Time below the high
- 9 mo
- since Oct 29, 2025
- Worst-ever drawdown
- −84.8%
- Oct 11, 2022
- Longest underwater
- 3.9 yrs
- between all-time highs
- Today's level first reached
- Jul 22, 2021
- 5.1 yrs ago
- Last time this deep
- Oct 1, 2025
- in a previous episode
% of all-time high since 2015#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of SHOP, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Nov 19, 2021 | Oct 11, 2022 | −84.8% | 11 mo | Oct 24, 2025 | 3.9 yrs |
| Aug 3, 2015 | Feb 12, 2016 | −52.1% | 6 mo | Aug 19, 2016 | 13 mo |
| Oct 29, 2025 | May 13, 2026 | −46.7% | 6 mo | not yet | 9 mo+ |
| Feb 19, 2020 | Mar 16, 2020 | −40.7% | 26 days | Apr 17, 2020 | 58 days |
| Jul 25, 2018 | Dec 24, 2018 | −31.5% | 5 mo | Feb 8, 2019 | 7 mo |
| Aug 27, 2019 | Nov 7, 2019 | −29.8% | 2 mo | Dec 26, 2019 | 4 mo |
| Feb 16, 2021 | Mar 29, 2021 | −29.4% | 41 days | Jun 21, 2021 | 4 mo |
| Jun 17, 2015 | Jul 9, 2015 | −24.8% | 22 days | Aug 3, 2015 | 47 days |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2015: how far SHOP stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: SHOP is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is SHOP from its all-time high?
- SHOP is currently 11.4% below its all-time high, set Oct 29, 2025 (as of market close, Aug 13, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest SHOP drawdown ever?
- The deepest decline on record in our data (since 2015) took the stock 84.8% below its prior high, bottoming Oct 11, 2022. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 2015 (split-adjusted). "All-time" means since our price data begins — SHOP may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.