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Why Shopify Stock Rallied This Week

TheMotleyFool

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Shares of Shopify (NYSE: SHOP) climbed nearly 10% this past week, according to data provided by S&P Global Market Intelligence, after the commerce platform moved to strengthen its leadership team.

Shopify hired Jeff Hoffmeister to serve as its new chief financial officer. He will replace Amy Shapero, who will step down after the company's third-quarter 2022 earnings release on Oct. 27.

Hoffmeister has more than two decades of experience at Morgan Stanley, most recently as managing director of its Technology Investment Banking group. Hoffmeister led Shopify's initial public offering (IPO) in 2015. He also has expertise in mergers and acquisitions.

Source Fool.com

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