Topic: How To Invest

Stock Pickers Digest Hotline – Friday, June 9, 2017

Article Excerpt

SHOPIFY INC., $122.80, symbol SHOP on Toronto, offers merchants of all sizes Internet-based software to design, set up and manage stores across multiple sales channels. They include both permanent and temporary retail stores but also web, mobile and social-media platforms. The software gives merchants a real-time snapshot of their entire business, including inventory, shipping and payments. The company charges monthly subscription fees of $29 to $179. It also charges for each credit card transaction. The stock continues to move up: it has gained over 85% since we first recommended it in our February 2017 issue at $66.17 a share. Shopify has now taken advantage of its soaring stock price and raised $575.6 million U.S. by selling 6.3 million shares to the public. The sale will increase the number of shares outstanding by about 7%. The company plans to use the funds to expand its network and technology, increase its marketing efforts and possibly make acquisitions. Shopify should continue to gain from the consumer shift to…