Shopify Gains 6% As Merchants Break Black Friday Sales Record

Shares of e-commerce company Shopify Inc. (SHOP) are gaining over 6% on Monday's trading. On Saturday, Shopify merchants break Black Friday records with $3.36 billion in sales.

SHOP is currently trading at $39.10, up $2.31 or 6.28%, on the NYSE. The stock opened its trading at $38.80 after closing Friday's trading at $36.79. The stock has traded between $23.63 and $162.99 in the past 52-week period.

Shopify on Saturday announced a record-setting Black Friday with sales of $3.36 billion from the start of Black Friday in New Zealand through the end of Black Friday in California. This marks a 17% increase in sales over Black Friday in 2021.

"Black Friday Cyber Monday has grown into a full-on shopping season. The weekend that started it all is still one of the biggest commerce events of the year, and our merchants have broken Black Friday sales records again," said Harley Finkelstein, President of Shopify. "Our merchants have built beloved brands with loyal communities that support them. This weekend, we're celebrating the incredible power of entrepreneurship on a global stage."

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