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Shopify gains amid record sales results

6:51 PM 27 November 2023

Shopify (SHOP.US) shares are gaining nearly 5% today after the Canadian online commerce platform released its Black Friday sales figures. The company generated product sales of $4.1 billion, an increase of 22% year-on-year. The largest sales were in countries such as the US, UK and Canada. The company also reported that the best-selling products were in the apparel, personal products and jewellery categories.

The company's shares have risen above the local highs of July this year and are now at their highest since March 2022. It is worth noting, however, that Amazon's shares have risen faster than Shopify's since April.

Source: xStation5

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