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Why Shopify Stock Jumped 13% in May
Shopify (NASDAQ: SHOP) stock soared 13% in May, according to data provided by S&P Global Market Intelligence. It reported well-received earnings results, and it benefited from an ease in tariff raises -- for now.Shopify is an e-commerce services provider, offering everything from full website development to single components for omnichannel retailers, including physical hardware. It's gone from its niche of small businesses to become a full commerce giant supporting large, well-known brands with many of its solutions.Like any company that's become top of its industry, it's experienced ups and downs. It has recovered from an ill-fated expansion into delivery services that hurt its bottom line, and it's now in a phase of strong growth and rising profits. With lots of opportunity, it should stay in that place for many years.Continue reading
Shopify (NASDAQ: SHOP) stock soared 13% in May, according to data provided by S&P Global Market Intelligence. It reported well-received earnings results, and it benefited from an ease in tariff raises -- for now.
Shopify is an e-commerce services provider, offering everything from full website development to single components for omnichannel retailers, including physical hardware. It's gone from its niche of small businesses to become a full commerce giant supporting large, well-known brands with many of its solutions.
Like any company that's become top of its industry, it's experienced ups and downs. It has recovered from an ill-fated expansion into delivery services that hurt its bottom line, and it's now in a phase of strong growth and rising profits. With lots of opportunity, it should stay in that place for many years.
