1650 GMT - Shopify should see a boost in trading based on Black Friday and Cyber Monday past performances. In a Scotiabank report, Kevin Krishnaratne says 3Q was a blowout, driving shares up 20% due to strong earnings. This increased the company's valuation and brings the stock up 53% year to date. "Still, we think the stock can continue to move higher to close out the year despite the valuation...on positive news flow in and around this weekend," the analyst says. "In most years, Shopify has also performed well after Black Friday-Cyber Monday." Shares are up 0.2% to C$158.13. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
November 28, 2024 11:50 ET (16:50 GMT)
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