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Here's Why Shopify Stock Soared Today

TheMotleyFool

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Here's Why Shopify Stock Soared Today: https://g.foolcdn.com/editorial/images/706578/investor-gettyimages-1164915433.jpg

Shares of Shopify (NYSE: SHOP) surged 17% on Thursday after the e-commerce company's third-quarter results gave investors hope that its worst losses were behind it.

Shopify facilitated $46.2 billion worth of transactions, a metric known as gross merchandise volume (GMV). That represented growth of 11% compared to the prior-year quarter.

Shopify also captured a larger share of the value transacted on its e-commerce platform by providing more services to its merchant customers. Its attach rate, or revenue as a percentage of GMV, for its merchant-solutions business rose to a record 2.14%.

Source Fool.com

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