E-commerce stocks got hit hard on Monday as the market reacted to a game-changing development in the race for a COVID-19 vaccine.
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However, after Pfizer and BioNTech 's blockbuster announcement on Monday that clinical trial results suggest their coronavirus vaccine candidate, BNT162b, could be more than 90% effective at preventing COVID-19, many investors apparently decided to take profits in e-commerce stocks.
After incredible advances this year, it's understandable that some people would want to lock in some gains. But it's important to note that the migration of retail sales to online channels -- and with it, the shift from cash to digital transactions -- will not come to a halt after the COVID-19 crisis subsides. These are powerful long-term trends that should continue to propel the growth of Amazon, Square, PayPal, and Shopify for many years to come.
Other things to check out:
Zoom and other 'stay-at-home' stocks got crushed on the positive vaccine news
Shares of Zoom Video fell sharply Monday as names benefitting from people staying at home due to the coronavirus pandemic lost their appeal following the release of positive coronavirus vaccine data.
Zoom Video closed 17.4% lower. Fellow "stay-at-home" stocks Amazon and Netflix dropped 5.1% and 8.6%, respectively. Teladoc Health slid 13.7% and Shopify declined by 13.6%.
The losses came after Pfizer and BioNTech reported that their coronavirus vaccine candidate showed a 90% efficacy rate in preventing infections during a late-stage trial. Scientists were hoping for a vaccine that was at least 75% effective. White House coronavirus advisor Dr. Anthony Fauci had said a vaccine that is 50% or 60% effective would be acceptable.
New App from Vimeo Helps Sellers Produce Product Videos - EcommerceBytes
Vimeo launched a new app so sellers can create product videos for their Shopify-hosted stores and social networking accounts.
Vimeo for Shopify is a new integration with Shopify that lets merchants “automatically create dynamic, professional-quality product videos at scale,” a spokesperson for Vimeo told EcommerceBytes. Sellers can seamlessly distribute videos to Shopify and other social channels directly from their Vimeo accounts.
Lemonade: The Next Shopify Or Tesla? (NYSE:LMND) | Seeking Alpha
Lemonade is a young, fast (triple digits) growing innovative insurance company. It has very high customer ratings.
It is disrupting insurance via AI: it handles a major portion of claims through bots, almost instantaneously. And as it gathers more data, its bots improve, like Tesla Autopilot.
Management notes that its growth is almost linear with marketing spend. Further growth potential comes from new products and international expansion.
This may worth something:
Shopify Stock: Coming Off a Record Q3, Now Is the Time to Buy SHOP | InvestorPlace
Canadian e-commerce company Shopify (NYSE: SHOP ) was already a growth story before the pandemic hit — Shopify stock posted a 187% gain in 2019. But 2020 served up the perfect scenario for SHOP: a surge in online shopping accompanied by a frantic rush by small retailers to get online. The company just posted record-smashing third-quarter results. And we’re heading into the holiday shopping season.
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In other words, everything is in place for Shopify shares to keep posting phenomenal growth. And here’s where there’s an opportunity for canny investors. SHOP stock had just about recovered from the September tech stock selloff, but took a hit after it reported Q3 earnings. It’s already beginning to bounce back, but if you move quickly, you can pick up shares in this Portfolio Grader “A”-rated growth stock at a discount.
The weirdest holiday gift idea ever? Shopify launches 'Gift A Business' service | TechRadar
E-commerce platform Shopify is allowing customers to purchase an unusual gift this holiday season – a business.
The 'Gift A Business' event will be launching on Shopify's Exchange Marketplace on November 16 and allows anyone to purchase a pre-built Shopify store for one lucky friend or family member.
Anyone that's ever dreamed of being their own boss has probably thought of becoming an entrepreneur but starting out can often be the hardest part. The idea behind the new Shopify service is that gifting a business means putting off that dream is no longer an option.
Shopify takes hit as 'stay-at-home' stocks tumble on positive vaccine news | Ottawa
Ottawa's Shopify joined a wave of "stay-at-home" stocks that took a beating on Monday in the wake of news that a pharmaceutical giant's coronavirus vaccine had shown promising results.
The e-commerce powerhouse's stock price dipped nearly 14 per cent – or more than $185 – to $1,173.53 on the Toronto Stock Exchange. The downturn came after Pfizer said an early peek at its vaccine data suggests the shots may be 90 per cent effective at preventing COVID-19, indicating the company is on track later this month to file an emergency use application with U.S. regulators.
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