A roundup of some of the North American equities making moves in both directions today
On the rise
Ottawa-based e-commerce company Shopify Inc. (SHOP-T) increased just over 7 per cent after it beat analysts’ estimates for quarterly revenue and profit on Wednesday, as more brick-and-mortar businesses listed on the firm’s platform to cash in on the increase in number of people shopping online.
Online retailers have emerged as winners from coronavirus lockdowns and retain their appeal as people prefer to shop from their homes instead of making a trip to brick-and-mortar stores due to a resurgence in infections.
Story continues below advertisement
In June, Walmart Inc, the world’s biggest brick-and-mortar retailer, partnered with Shopify to ramp up its efforts to capture a bigger slice of that surge.
Shopify generates revenue by selling subscription to merchants looking to join its e-commerce platform and by charging them payment processing and transaction fees, as well as for logistics services.