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Why Shopify Stock Rallied Today Even as the Nasdaq Dropped

TheMotleyFool

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Why Shopify Stock Rallied Today Even as the Nasdaq Dropped: https://g.foolcdn.com/editorial/images/706968/e-commerce-shopping-getting-a-package-amazon.jpg

Shares of Shopify (NYSE: SHOP) were bucking the broad-market trend today and gaining two trading days after it posted better-than-expected third-quarter results and a day after rival Amazon missed the mark badly in its fourth-quarter guidance.

Though there was no company-specific news out on Shopify today, investors seemed to be growing optimistic that the worst has passed for the e-commerce software stock.

As of 10:54 a.m. ET, Shopify stock was up 3.8% while the Nasdaq had lost 1.4%.

Source Fool.com

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