Cyber Monday Sales Could Hit $12 Billion: 5 Stocks Plays On E-Commerce Holiday Shopping Growth
Portfolio Pulse from Chris Katje
Adobe's report predicts Cyber Monday sales to reach $12 billion to $12.4 billion, a 5.4% increase over last year. The report highlights a shift towards online shopping, with strong discounts driving consumer spending despite economic concerns. Amazon (AMZN), Walmart (WMT), Affirm Holdings (AFRM), Roblox Corporation (RBLX), and Shopify (SHOP) are identified as potential winners from the e-commerce holiday shopping growth. Affirm's shares rose 13% on Monday, while Shopify's shares increased by 5%, with Shopify merchants recording $4.1 billion in Black Friday sales.
November 27, 2023 | 3:55 pm
News sentiment analysis
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POSITIVE IMPACT
Affirm Holdings could benefit from increased Buy Now Pay Later spending, with shares already up 13%.
Affirm's stock surge on Monday reflects investor optimism about its growth prospects due to increased Buy Now Pay Later usage during the holiday season.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Amazon is expected to be a winner of the 2023 holiday shopping season, starting Cyber Monday deals early.
Amazon's early start to Cyber Monday deals positions it to capture significant sales, likely boosting its short-term stock performance.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Roblox Corporation could see increased sales from Roblox gift cards, identified as a hot product for the holiday season.
The popularity of Roblox gift cards as holiday gifts may lead to increased in-app spending, potentially boosting Roblox Corporation's revenue and stock price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Shopify's shares are up 5%, with the company benefiting from increased e-commerce spending and record Black Friday sales.
Shopify's significant Black Friday sales performance and its role in powering many online stores suggest a positive short-term impact on its stock.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Walmart could stand out as a winner during the holiday shopping season due to consumer price sensitivity.
Walmart's appeal to cost-conscious consumers during a period of high inflation may lead to increased sales and a positive impact on its stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85