SHOP - Here's Why Shopify Stock Just Hit a New 52-Week High Today
2023-11-27 11:58:04 ET
Shopify (NYSE: SHOP) is a company that provides software for building e-commerce operations. And its customer base of merchants appears to be doing very well. In the U.S., the day after Thanksgiving is known as Black Friday -- merchandise is marked down and shoppers scramble to find deals.
This Black Friday was record-breaking for Shopify. And that's why Shopify stock was up about 5% as of 10:45 a.m. ET, reaching its highest price per share since early 2022. Shares are up about 112% year to date.
According to Shopify, its merchants had sales of $4.1 billion on Friday alone, which was up 22% from Black Friday last year.
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Here's Why Shopify Stock Just Hit a New 52-Week High Today