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Why Shopify Stock Soared to a New All-Time High Today
Shares of Shopify (NYSE: SHOP) surged 12% to a record closing high of $1,669.52 on Thursday as investors’ enthusiasm for the e-commerce leader reached a fevered pitch. Shopify’s third-quarter revenue rocketed 46% year over year to $1.1 billion. “Our results show that Shopify is executing well, giving our merchants the tools they need to compete in differentiated ways in a growing number of markets,” Chief Financial Officer Amy Shapero said in the company’s earnings release.