Why Shopify Stock Was Up 124% Last Year

Shares of e-commerce software company Shopify (SHOP 2.92%) were up 124.4% in 2023, according to data provided by S&P Global Market Intelligence. This handily outpaced the 24% gain for the S&P 500.Distilling an entire year into a succinct narrative to explain Shopify's outperformance is challenging. However, the chart below shows that some of biggest gains for Shopify stock came in May and November. And this helps investors narrow things down to just the most relevant news. On May 4, Shopify announced that i ...