Shopify (SHOP) shares soar after unveiling plans for a new distribution network

NYSE: SHOP | Shopify Inc. Class A Subordinate Voting Shares News, Ratings, and Charts

SHOP – Shopify hit an all-time high after announcing plans for distribution network.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Shopify stock hit an all-time high Wednesday after the e-commerce firm unveiled plans to build a U.S. distribution network to store and ship products for its merchant customers.

With the news, Shopify (SHOP) popped 7.5% to close at 327.02 on the stock market today.  The e-commerce firm said it aims to spend $1 billion on a network of U.S. fulfillment centers.

In addition, the move takes aim at Amazon.com (AMZN), which by far has the biggest product distribution network for online retailers.

The company announced plans for the centers at its annual developer conference. The conference is called Shopify Unite.

Based in Ottawa, Canada, Shopify sets up e-commerce websites for small businesses. It partners with others to handle digital payments and shipping.

Shopify Taps Artificial Intelligence For Distribution Network

In a company blog, Shopify said its distribution network will use machine learning, a type of artificial intelligence, to ensure “timely deliveries and lower shipping costs.”

Artificial intelligence stocks to watch include companies in financial services, online dating, digital advertising, and business communications.

Furthermore, Shopify has upped international investments. It also has set a $30 million marketing campaign to build up its brand.

In May, Shopify reported first-quarter earnings and revenue that topped estimates. Adjusted earnings rose 125% to 9 cents a share, with revenue jumping 50% to $320.5 million.

Shopify stock has soared 87% from a year ago.


Shopify Inc. Class A Subordinate Voting Shares (SHOP - Get Rating) shares rose $0.98 (+0.30%) in after-hours trading Wednesday. Year-to-date, Shopify Inc. Class A Subordinate Voting Shares (SHOP - Get Rating) has gained 136.20%, versus a 17.78% rise in the benchmark S&P 500 index during the same period.


This article is brought to you courtesy of Investor’s Business Daily .

More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
SHOPGet RatingGet RatingGet Rating
AMZNGet RatingGet RatingGet Rating

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Top Stories on StockNews.com

NASDAQ: JAKK | JAKKS Pacific, Inc. News, Ratings, and Charts

Best & Worst Performing Stock Industries for July 15, 2019

Led by ticker JAKK, "Entertainment - Toys & Video Games" was our best performing stock industry of the day, with a 2.53% gain.
NASDAQ: CAPR | Capricor Therapeutics, Inc. News, Ratings, and Charts

Best & Worst Performing Small Cap Stocks for July 15, 2019

CAPR leads the way today as the best performing small cap stock, closing up 93.48%.
NASDAQ: GLPG | Galapagos NV News, Ratings, and Charts

Best & Worst Performing Mid Cap Stocks for July 15, 2019

GLPG leads the way today as the best performing mid cap stock, closing up 17.16%.
: ZM | Zoom Video Communications, Inc. - Class A Common Stock News, Ratings, and Charts

Best & Worst Performing Large Cap Stocks for July 15, 2019

ZM leads the way today as the best performing large cap stock, closing up 6.97%.
NYSE: BABA | Alibaba Group Holding Limited American Depositary Shares each representing one Ordinary share News, Ratings, and Charts

Best & Worst Performing Mega Cap Stocks for July 15, 2019

BABA leads the way today as the best performing mega cap stock, closing up 2.62%.

Read More Stories


More Shopify Inc. Class A Subordinate Voting Shares (SHOP) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All SHOP News
Page generated in 1.5119 seconds.