Why Shopify Stock Surged Today
Shares of Shopify (NYSE: SHOP) rose 8% on Tuesday, as several macroeconomic factors helped to boost investor interest in the commerce platform's stock.
Rapidly rising COVID-19 case counts in Asia and Europe are sparking fears of a new round of lockdowns after China imposed restrictions on several of its largest cities to stem an outbreak attributed to a highly contagious coronavirus variant.
The shutdowns could tangle global supply chains and slow the economy's recovery, but they could also lead to a reacceleration in e-commerce growth. Shopify would be a prime beneficiary of stronger online sales.
Source Fool.com
