Shopify (SHOP): The $116M lending trap & the bots writing half the code [Q1 2026]

Shopify's Q1 2026 printed stunning revenue milestones, but the stock cratered 15% as Wall Street penalized the tech giant for inheriting traditional banking risks.In ~10 minutes:• Why Shopify Capital's $116M in credit losses terrified Wall Street• The truth behind a massive $581M paper net loss• How AI bots are now writing over 50% of Shopify’s code• Stripe and Amazon quietly adopting the new Universal Commerce Protocol 🤖Despite clearing $100 billion in gross merchandise volume for the second straight quarter and growing revenue 34%, Shopify was punished for a P/E multiple that demands absolute perfection. We unpack how the company is offsetting an increasingly risky $2 billion loan book by drastically cutting engineering costs and owning the hidden checkout rails of the internet's AI era.Shopify Inc. (SHOP) | Q1 FY2026AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.