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Why Shopify Stock Is Skyrocketing Today

TheMotleyFool

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Why Shopify Stock Is Skyrocketing TodayPhoto, wide shot, wide-angle lens, soft focus, IT consulting firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-uhXP0RHYYxDepjmHeSp1K8bF.png?st=2023-05-07T15%3A26%3A44Z&se=2023-05-07T17%3A26%3A44Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-07T16%3A18%3A55Z&ske=2023-05-08T16%3A18%3A55Z&sks=b&skv=2021-08-06&sig=4pcJOd8aEI1799liUV13F4ElqO7e4RZy8sa1PEeeNZA%3D

(NYSE: SHOP) stock is surging in Tuesday's trading following the release of the company's third-quarter earnings report. The e-commerce specialist's share price was up 25.6% as of 11 a.m. ET.

Shopify published its Q3 report before the market opened this morning, delivering sales and earnings for the period that beat Wall Street's expectations. Even better, the e-commerce leader's forward guidance came in far better than anticipated.

Today's rally has pushed the stock to a new three-year high.

Source Fool.com