Shares of Global-E Online (NASDAQ: GLBE) charged sharply higher Tuesday, surging as much as 29.5%. As of 11:38 a.m. ET, the stock was up 27.9%.
The catalyst that sent the e-commerce cross-border specialist higher was the company's quarterly financial results, which were far better than investors had expected.
Global-E Online generated second-quarter revenue of $87.3 million, which jumped 52% year over year, pushed higher by gross merchandise volume (GMV) of $534 million, which surged 64%. This resulted in a loss per share of $0.25.
For further details see:
Why Shopify-Backed Global-E Online Stock Exploded Higher This Morning