Monday’s Headlines: Shopify Headed For All-Time High
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Moving Down ⬇️
1. Shares in Shopify closed on Friday up 12.2% as e-commerce traffic continues to surge amid widespread stay-at-home orders. On Friday, CTO Jean-Michel Lemieux stated: “As we help thousands of businesses to move online, our platform is now handling Black Friday level traffic every day!” At its current trajectory, the company is on course to hit new all-time highs, having jumped 66% in the past month alone, and up 172% year on year. Read the full story here.
2. Planet Fitness was the big winner on Friday, with its stock price jumping a whopping 12.9% off the back of optimism surrounding reopenings. President Trump released guidelines that would let certain establishments reopen, including gyms, in phase one of easing coronavirus restrictions. The move is a welcome respite for the gym brand, which has seen its stock drop 22% over the past 12 months but has now rallied 60% since March. Get the complete report here.
3. It was a rare day in the red for Wall Street darling Netflix, which fell 3.7% by Friday’s close, after some Wall Street analysts suggested that the stock may have gotten ahead of itself, jumping 32% in the past month. Other analysts had been praising the dominant video streamer all week long, pushing shares to all-time highs last Thursday. The company is expected to report earnings on Tuesday, 21 April, where analysts are anticipating