With the key earnings releases reported, the majority of traders and investors will now focus on a possible deal on a new stimulus aid package.
Analysts predict that the bigger stimulus package will be provided the bigger will be chances for faster economic revival and growth. In addition, the major stocks will also preserve their upward momentum. These expectations, as well as better than expected earnings reports this month from the biggest U.S. companies drove the stocks to further record highs during the past week.
The Dow Jones Industrial Average climbed 1% and closed trading at 3,458.40, while the S&P 500 gained 1.23% and closed trades at 3,934.83. The tech behemoth NASDAQ Composite also had a strong week, rising 1.7% and ending trades at 14,095.47.
Below we will focus on Shopify stock which is going to demonstrate trading action during the holiday shortened-week.
Shopify, a Canadian multinational e-commerce company headquartered in Ottawa, Ontario (NYSE:SHOP) is expected to share its fiscal 2021 third-quarter earnings announcement on Wednesday, Feb. 17th, before the markets open. Experts expect EPS of $1.26 on sales of $913 million.
The Canadian e-commerce platform provider, which produces tools that assist small businesses to engage in commerce across a wide range of channels, has elevated 175% during the past year, transforming into the most-valued company in Canada with a solid market cap of USD$117.21B. The stock ended trading on Friday at $1,455.49.
Perhaps, Shopify’s major strong point is that it enables small- and medium-sized businesses an efficient and cost-effective way of creating a safe online store at a time of e-commerce revolution and continuous boost. The platform holds all the important security, data protection and payments side of the business, enabling merchants to focus primarily on their businesses.