Why Shopify, Opendoor, and Upstart Holdings Rocketed Higher This Week
Shares of rate-sensitive growth stocks (NYSE: SHOP), Opendoor Technologies (NASDAQ: OPEN), and Upstart Holdings (NASDAQ: UPST) rallied this week, up 11.7%, 21.2%, and 21.7%, respectively, according to data from S&P Global Market Intelligence.
Shopify is a high-growth e-commerce stock, Opendoor is an online e-commerce platform that buys and sells homes, and Upstart is a loan underwriter, mostly for unsecured personal loans and auto loans.
What do they have in common? Each is extremely sensitive to the interest rate environment, and each stock has been absolutely clobbered over the past two years by the fastest-ever series of interest rate hikes in history.
Source Fool.com
Shopify Inc Stock
€55.19
1.190%
Our community is currently high on Shopify Inc with 5 Buy predictions and 0 Sell predictions.
With a target price of 75 € there is a positive potential of 35.89% for Shopify Inc compared to the current price of 55.19 €.
