Why Shopify Stock Popped Today
Shares of Shopify (NYSE: SHOP) have popped today, up by 7% as of 1:30 p.m. EDT, after Chief Technology Officer Jean-Michel Lemieux disclosed on social media that the e-commerce platform was seeing a massive surge in traffic. The COVID-19 pandemic is driving many consumers to place online orders due to ongoing containment efforts.
Lemieux said that Shopify was seeing daily traffic levels comparable to Black Friday, the biggest shopping holiday of the year. The executive even suggested that there could be even more upside, while encouraging job seekers to apply for a position to help Shopify scale.
As we help thousands of businesses to move online, our platform is now handling Black Friday level traffic every day!
It won't be long before traffic has doubled or more.
Our merchants aren't stopping, neither are we. We need 🧠to scale our platform.https://t.co/e2JeyjcEeC pic.twitter.com/6lqSrNUCte
Source Fool.com
