BigCommerce, a Shopify rival that offers an href="https://directamp.com/" title="">ecommerce platform as a service aimed at online businesses, surged as much as 292% in its first day of trading on Wednesday.
The Austin, Texas-based company and existing stockholders sold a total of 9 million shares to the public, raising $216 million for BigCommerce.
The initial public offering was initially priced at a range of $18 to $20, but strong investor demand led to a range raise between $21 and $23. It was eventually priced at $24 on Tuesday night.
In case you are keeping track:
CEO's of Jumia, Alibaba, Weyland Tech, and Shopify Discuss New Global Trends in E-Commerce,
NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at Jumia Technologies (NYSE: JMIA), Weyland Tech (OTC: WEYL), Alibaba Group (NYSE: BABA) and Shopify (NYSE: SHOP ).
The pandemic is accelerating adoption of e-commerce, mobile shopping & payments globally - with some of the most exciting growth opportunities in developing markets like Southeast Asia, and Africa. Wall Street Reporter highlights tech leaders comments and insights from recent earnings and analyst calls on these developing trends.
Shopify Is Seizing An $80 Billion Pot Of Gold
You probably recognize most of these stocks. The 2020 column reads like a "who's who" of the most popular US stocks today. But you'll notice a strange pattern when you look across all three columns.
The list completely changes every decade. In other words, most of the world's dominant companies falter and fall out of the top 10. Only Microsoft has maintained its position since 2000.
And usually when a stock drops off the list, it does not decline gracefully. Investors who owned it get crushed . For example, from 2001–2018, General Electric (GE) stock plunged 79%, Cisco (CSCO) collapsed 89%, and Intel (INTC) dropped 56%.
E-Commerce Brands Shopify and Etsy Are Driving a Stock Market Rally – Footwear News
While the coronavirus crisis has battered almost every corner of the retail industry, the surge in consumers doing their shopping online — and in businesses shifting to meet their needs — has given investors a reason to be bullish on e-commerce.
Major online retail players such as Shopify and Etsy have seen meaningful stock-market gains since North American lockdowns began in March, and have continued to trend upward even as most brick-and-mortar stores have reopened.
Quite a lot has been going on:
Shopify (SHOP) Q2 2020 earnings
Popular stock Shopify jumped on Wednesday after the Canadian e-commerce company beat estimates for second-quarter revenue as more brick-and-mortar retailers used its online platform during coronavirus-led lockdowns.
Shares rose 7.2% in premarket trading following the results, further extending Shopify's lead over Royal Bank of Canada as the country's largest company by market value.
Shopify tradeoffs: What to consider before selecting your next e-commerce platform
Selecting the appropriate e-commerce platform for your goals, circumstances and customers can influence your sales and the amount of time your staff dedicates to maintaining that platform. If you're looking at Shopify as your next potential e-commerce solution, you need to be aware of its strengths and limitations, with regards to SEO as well as other considerations that could affect your organization's success.
After Shopify’s huge quarter, BigCommerce raises its IPO price range – TechCrunch
When BigCommerce , the Texas-based Shopify competitor, first announced an IPO price range, the numbers looked a little light.
At the time, TechCrunch wrote that “BigCommerce feels cheap at its current multiple,” and that if you added “recent market exuberance for cloud shares that we’ve see in other IPOs … it feels even more underpriced.”
Those feelings have been borne out. Today, BigCommerce announced a new, higher IPO price range. The firm now intends to price its IPO between $21 and $23 per share. Let’s calculate its new valuation, compare that to its preliminary Q2 results to get new multiples for the impending e-commerce software IPO, and figure how its most recent investors are set to fare in its impending debut.
Happening on Twitter
Shopify rival BigCommerce surges 292% in first day of trading as investor demand in ecommerce remains strong https://t.co/j58xM0lCs0 businessinsider (from New York, NY) Wed Aug 05 17:06:03 +0000 2020
Tal vez no has escuchado hablar de Shopify, pero es la empresa más valiosa de Canadá y discretamente se ha converti… https://t.co/8iCo837yKb bbcmundo (from Londres, Inglaterra.) Sat Aug 01 00:16:11 +0000 2020
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