Should You Buy Shopify Inc (SHOP) Stock After it Has Risen 6.30% in a Week?

Shopify Inc (SHOP) stock is higher by 6.30% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Shopify Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on SHOP!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With SHOP Stock Today?

Shopify Inc (SHOP) stock is trading at $1,555.19 as of 11:39 AM on Wednesday, Jul 21, a rise of $30.41, or 1.99% from the previous closing price of $1,524.78. The stock has traded between $1,515.64 and $1,559.00 so far today. Volume today is light. So far 621,251 shares have traded compared to average volume of 1,487,179 shares.

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. Click Here to get the full Stock Report for Shopify Inc stock.