Why Global-e Stock Soared 92% in 2023
Global-e Online (NASDAQ: GLBE) stock gained 92% in 2023 according to data provided by S&P Global Market Intelligence. The e-commerce company continues to do brisk business despite inflation and retail pressure.
Global-e operates a business-to-business platform with cross-border e-commerce solutions. It makes it simple for any online retailer to integrate global shipping and payment services into their existing websites, essentially enabling them to easily expand their target market to the entire world.
It's easy to see the attraction for any e-commerce retailer, especially when sales have been flagging for many of them in the inflationary environment. That gives it some resilience in a harsh operating climate, but it's also been slowing down as gross merchandise volume has been decelerating.
Source Fool.com
