Shopify now makes up 11% of Ark's total holdings.Cathie Wood developed a reputation as a prescient stock picker as her flagship fund, the Ark Innovation ETF (ARKK 0.31%) more than doubled in 2020, along with several other of her actively traded exchange-traded funds (ETFs).Wood also famously made an outlandish call in 2018 for Tesla to hit a split-adjusted price of $3,000, which it did when it soared in 2020 as it turned profitable.More recently, her returns have been more underwhelming, but growth stock in ...

A great business doesn't always translate into a great stock.Shares of Shopify (SHOP 1.02%) have risen more than 20% this month as investors have been encouraged by the company's strong growth in revenue and gross profit. But investors shouldn't get too excited. There's good reason to believe the stock's recent rebound could be hot air.Sure, the e-commerce platform company continues to execute well and management seems to be making a lot of good decisions. The problem, however, is the stock's valuation -- t ...

The e-commerce platform has soared ever since it went public.Shopify (SHOP -2.68%) has taken its investors on a volatile journey ever since its initial public offering in May 2015. But shares have still made for a wildly successful investment, as they have soared 2,860% during the company's entire public history.As of this writing, the business carries a market cap of just under $100 billion. Can this top e-commerce stock see its market cap rise 10-fold between now and 2030? That would make Shopify a trilli ...

NEW YORK, Aug. 26, 2024 /PRNewswire/ -- The Special Committee of the Board of Directors (the "Special Committee") of Paramount Global (NASDAQ: PARA, PARAA) ("Paramount" or "the Company") today confirmed that it has been informed by Edgar Bronfman, Jr. that the acquisition proposal from his consortium of investors (the "Bronfman Consortium") has been withdrawn. Therefore, the "Go-Shop" period as defined in the Transaction Agreement with Skydance Media, LLC has concluded with respect to all parties.During the ...

Shopify (SHOP) shares have returned 21.5% in the past month, outperforming both the Zacks Computer & Technology sector and the Zacks Internet Services industry. Over the same timeframe, the sector and industry have lost 1.2% and 6.4%, respectively. The outperformance can be attributed to Shopify’s robust second-quarter 2024 results that primarily benefited from an expanding merchant and partner base.Total revenues jumped 20.7% year over year to $2.05 billion, which beat the Zacks Consensus Estimate by 2.03% ...

As TikTok Shop gains traction, YouTube is expanding its partnership with Shopify to onboard more brands for its YouTube Shopping affiliate program, the company announced on Tuesday. The expanded partnership means creators will get access to thousands of new brands to tag in their shopping videos, marking a significant increase from the few hundred brands they currently have access to.As part of the expansion, all eligible Shopify Plus and Advanced merchants in the U.S. can now sign up for the Shopping affil ...

Could Shopify prove to be a recession-proof stock?Concerns about the economy have led to many e-commerce stocks struggling this year. Shares of Shopify (SHOP -0.40%), Wayfair, and Etsy are all down more than 10% in just the past six months. Even the mighty Amazon has barely managed to stay in the green during that stretch.Investors are fearing the worst about a possible economic slowdown next year. But Shopify's management thinks that the company is in a better position than many of its rivals.Shopify has b ...

Sean Gallup Introduction Last week, Shopify (NYSE:SHOP) (TSX:SHOP:CA) announced its Q2 2024 results and the market reacted very enthusiastically and the stock shot up 26%. Since then, the run kept going, and the stock is now up 38%. Data by YCharts Of course, if you zoom out, you see that the stock had dropped a lot recently. Probably, the reason was that investors saw weaker consumer demand and were afraid it would impact Shopify. So, despite the big jump now, the stock is still down about 4% year-to-d ...

JHVEPhoto Shopify (NYSE:SHOP) stock jumped by over 22% on the day it reported earnings last week, surprising investors with the incredible strength of its e-commerce business, despite most competitors delivering underwhelming results, citing economic weakness. The commerce giant proved its ability to continue adding new merchants at higher subscription prices, while also offering the best-in-class software platform to enable merchants to thrive, even with consumer spending trends weakening across the econom ...

The e-commerce software giant has fallen over 60% from its 2022 highs.Shopify (SHOP 4.55%) is one of the world's largest e-commerce platforms. Using the company's software and services ecosystem, virtually any person or company can open an online store. It's getting harder to call the company a hidden gem -- the stock is worth nearly $90 billion and has been public for almost a decade. That said, Shopify has fallen out of favor with investors over the past few years.The stock peaked in 2022 thanks to pandem ...