Shopify Inc. ( SHOP ) is edging closer to a resumption of its advance. When we looked at SHOP back on April 8 we wrote that, "Aggressive traders could go long SHOP at current levels only if they can afford to risk to $1,050 for now."
In the updated daily bar chart of SHOP, below, we can see that the shares tested the $1,050 area in the middle of May and may have stopped out our recommendation. SHOP has since rallied but has not yet overcome the late April highs. The slope of the 50-day moving average line is positive and so is the slope of the 200-day line.
Lightspeed POS 'heading directly for Shopify' with latest acquisition spree - The Globe and Mail
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Lightspeed POS Inc.'s shopping spree continued Monday as the merchant point-of-sale software provider announced two acquisitions valued at a combined US$925-million, including an emerging competitor to fellow Canadian commerce software giant Shopify Inc .
The acquisitive Montreal-based Lightspeed said it would pay US$500-million for Ecwid Inc., a San Diego-based e-commerce platform with more than 130,000 paying customers. Lightspeed is also paying US$425-million for Los Angeles-based NuORDER Inc., which provides an online platform for 100,000 retailers to automate wholesale product ordering from more than 3,000 brands. It processed more than US$11-billion in orders over the past year.
Exclusive Q&A: Homesome seeks to become 'Shopify for grocers' | Chain Store Age
A San Jose-based e-commerce platform is providing third-party marketplace services to independent grocery retailers.
Chain Store Age recently spoke with Rahul Chabuskwar, founder and CEO of Homesome, a startup that describes itself as a "Shopify for independent grocery stores." Using proprietary automation technology to determine store inventory and enable two-week store onboarding, Homesome enables small grocers such as Westside Market NYC to offer customers online ordering and same-day delivery.
Instamojo Launches Shopify-like E-commerce Platform
Payments firm Instamojo said on June 8 that it had launched an e-commerce software platform aimed to help small to mid-sized consumer brands set up an online presence, along the lines of Canadian firm Shopify- currently worth $150 billion and among the hottest new age software firms.
Instamojo currently helps small businesses- say arts and crafts websites, niche brands and YouTube channels collect and process online payments. It now wants to help these businesses with their online retailing plans as well- helping with e-commerce software, branding, marketing, logistics and analytics.
Shopify Apps Created For Jewelers To Reach More Engagement Ring Clients
T HESE DAYS, PROSPECTIVE customers are all about convenience and having easy access to the information they are looking for online. If you’re selling or featuring engagement rings on your jewelry store website, you’ll want to make it as easy as possible for customers to find exactly what they’re looking for.
To help with this, GemFind Digital Solutions has created two must-have Shopify Apps that integrate perfectly and make it easier for you to sell diamonds and engagement rings online. Learn more about these exciting add-on apps and how they can help your jewelry store website stand out from competitors!
White House Website, Reddit, Shopify Down After Fastly Outage
News websites were interrupted too, including Insider, the Financial Times, The Guardian, The New York Times, the BBC, IGN, Forbes, Vice, and The Verge.
Shopify and Stripe back pricy carbon removal projects
Shopify and Stripe backing expensive projects to remove carbon from the atmosphere in a bid to seed new technologies that will green the economy. The payment processors are unlikely players in the carbon offset market, since neither of their business models directly involve pollution-intensive industrial activity.
Ottawa-based Shopify has committed to spend US$5 million annually on carbon removal, and just published its playbook to "kick-start the carbon removal market." The document details its strategy down to the technological approaches it favors and the stages of commercial readiness it will support. Stripe has a roster of projects ranging from direct air capture and sequestration to growing and sinking kelp in the open ocean.
Shopify and Lightspeed: 2 Canadian E-Commerce Stocks to Buy Right Now
Many great Canadian technological innovators like disruptive e-commerce kingpin Shopify (TSX:SHOP)(NYSE:SHOP) or commerce-enabling up-and-comer Lightspeed POS (TSX:LSPD)(NYSE:LSPD) have received a huge boost amid the pandemic. As a result, the moats of many incumbent market darlings are increasingly at risk of seeing their moats erode at a quicker rate.
Traditional firms that aren't making sufficient effort to defend their turf by catching up on the tech front to catch up with disruptive innovators could be most at risk. Undoubtedly, the job of traditional value-oriented buy-and-hold-forever investors has become that much harder with all the tech-leveraging disruptive forces popping up from left, right, and centre.
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