The market has been high on Shopify Inc (SHOP) stock recently. SHOP gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With SHOP Stock Today?
Shopify Inc (SHOP) stock is trading at $1,038.29 as of 11:49 AM on Thursday, Jul 2, an increase of $21.65, or 2.13% from the previous closing price of $1,016.64. The stock has traded between $1,022.00 and $1,059.44 so far today. Volume today is less active than usual. So far 2,117,485 shares have traded compared to average volume of 2,982,549 shares.
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More About Shopify Inc
Shopify offers an e-commerce platform primarily to small and midsize businesses. The firm has two segments: subscription solutions (43% of fiscal 2018 revenue) and merchant solutions (57% of fiscal 2018 revenue). The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. Merchant solutions are add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
