Why Shopify Stock Is Moving Higher Monday
Portfolio Pulse from Adam Eckert
Shopify Inc (NYSE:SHOP) stock is rising after announcing a Black Friday sales record of $4.1 billion by its merchants, a 22% increase from 2022. Sales peaked at $4.2 million per minute, with clothing, personal care, and jewelry as top categories. The average cart price was $110.71, with the U.S., U.K., and Canada as top selling countries. The stock was up 3.85% at $73.05.
November 27, 2023 | 1:33 pm
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Shopify's announcement of record Black Friday sales with a 22% increase from the previous year and peak sales of $4.2 million per minute has led to a 3.85% increase in its stock price to $73.05.
The positive sales data indicates strong performance and growth for Shopify, which is likely to instill investor confidence and could lead to a continued short-term upward trend in the stock price.
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IMPORTANCE 90
RELEVANCE 100