Why Shopify Stock Is Up Today
Shares of Shopify (NYSE: SHOP) climbed on Monday after the e-commerce infrastructure provider announced record-setting holiday sales. As of 3:15 p.m. ET, Shopify's stock price was up more than 3% after rising as much as 9% earlier in the day.
Merchants on Shopify's platform generated a record $3.36 billion in Black Friday sales. That's a 17% year-over-year jump, and a 19% increase when excluding foreign exchange fluctuations.
"Black Friday Cyber Monday has grown into a full-on shopping season," Shopify president Harley Finkelstein said in a press release. "The weekend that started it all is still one of the biggest commerce events of the year, and our merchants have broken Black Friday sales records again."
Source Fool.com
