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Thompson_AMM

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Thompson_AMM

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Tuesday, 11/01/2022 1:55:01 AM

Tuesday, November 01, 2022 1:55:01 AM

Post# of 714
Earnings momentum seemed to give the stock a lift again.


Shares of Shopify (SHOP 0.12%) were bucking the broad-market trend today and gaining two trading days after it posted better-than-expected third-quarter results and a day after rival Amazon missed the mark badly in its fourth-quarter guidance. Shopify stock was up 3.8% while the Nasdaq had lost 1.4%.
Shopify's gains today appear to be an extension of its momentum from its earnings report last Thursday when the stock jumped 17%, and investors may be taking a closer look at the stock after Amazon plunged on weak guidance.The company posted solid top-line growth with revenue up 22%, though gross merchandise volume was only up 11%.
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