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>>> E-commerce ETFs rally sharply as bricks-and-mortar underwhelms

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gfp927z   Friday, 05/22/20 12:51:02 AM
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>>> E-commerce ETFs rally sharply as bricks-and-mortar underwhelms


May 19, 2020

By Andrea Riquier


https://www.marketwatch.com/story/e-commerce-etfs-rally-sharply-as-bricks-and-mortar-underwhelms-2020-05-19?siteid=yhoof2&yptr=yahoo


E-commerce focused exchange-traded funds jumped Tuesday as a fresh round of updates from big retailers confirmed more consumer activity was moving online. The ProShares Online Retail ETF (ONLN), -1.22% rose nearly 2% midday, while the Amplify Online Retail ETF (IBUY), -0.51% and Global X's E-Commerce ETF (EBIZ), -0.33% were both up 1.3%. The ProShares fund, which was enjoying its biggest daily move in about three weeks, has as its biggest holding shares of Amazon.com Inc. AMZN, -2.05%, while EBIZ has its biggest position in Shopify Inc SHOP, +3.13% and IBUY's biggest holding is Revolve Group Inc. RVLV, +0.45%. On Tuesday morning, Walmart Inc. WMT, -0.36% said U.S. same-store sales rose 10%, but online commerce surged 74% as Americans hunker down at home to wait out the coronavirus pandemic. Separately, Pier 1 Imports Inc PIRRQ, -17.64% said it would file for bankruptcy protection.

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