Shopify (NYSE: SHOP ) stock is a wild one. Trading it is not for the faint of heart. If you are waiting for an easy entry point, you are going to be waiting a long time. The speed at which the shares move baffles most investors. Therefore it is much easier to invest in it with a particular thesis then try to trade it, unless you know the charts well.
* * *
Looking back at the last three days, SHOP stock was as high as $666 and as low as $560 per share. At yesterday’s close, it was just above the middle, so clearly investors are undecided about it here.
Quite a lot has been going on:
A Bet on Oil Backfires and Shopify Stock Hits Record High
Bull of the Day: Shopify (SHOP)
Shopify (SHOP) is the $68 billion disruptor in online marketplaces taking on Amazon (AMZN) and Ebay (EBAY) in the small business "etailer platform" market.
* * *
Just seven weeks ago, I was writing about SHOP as the Bear of the Day when shares were trading $500 on March 3. Here's what I wrote then...
And earnings estimates just plunged after the company revealed a big investment year ahead in their Q4 report delivered on February 12.
Why Shopify's Stock Is Trading Higher Today | Benzinga
The strength is potentially related to increased interest and usage of online retail platforms amid the coronavirus pandemic. The company's CTO last week said the company's platform was experiencing high levels of traffic.
Shopify is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.
Check out this next:
Shopify Up Over 6%, on Track for Record High Close — Data Talk | Morningstar
-- Traded as high as $636.00; new all-time intraday high (Based on available data back to May 21, 2015)
Stock-Market Rally Fizzles in Week When All Eyes Focused on Oil - WSJ
This week brought a halt, at least temporarily, to the stock market's rebound, and equities are back to their erratic selves.
The Dow Jones Industrial Average is off 3% for the week, and the S&P 500 is below its 50-day moving average of 2830. Even heavyweights such as Microsoft Corp. and Apple Inc. have tumbled.
No comments:
Post a Comment