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Why Shopify Stock Skyrocketed Last Week

TheMotleyFool

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(NASDAQ: SHOP) notched explosive gains over the past week of trading, thanks to a very strong quarterly report. The e-commerce specialist's share price surged 26.2% higher across the stretch. Over the same period, the S 500 rose 2.4%, and the Nasdaq Composite jumped 3.9%.

Shopify published its Q2 results before the market opened on Aug. 6, and the report arrived with a substantial sales beat that helped power big gains for the stock. The company's share price is now up roughly 41% year to date.

Image source: Getty Images.

Source Fool.com