Shopify Stock Rises On Consumer App Launch
Summary
The shopping assistant app moves Shopify further into the consumer space, a strategy also taken by PayPal Holdings (PYPL) with its purchase of Honey Science. The Shopify app lets users browse inventory and makes personalized product recommendations. When Shopify earnings for the first quarter are released May 6, analysts expect the company to report a loss of 19 cents a share vs. a 9-cent profit in the year-earlier period. In March, Shopify set aside $200 million for loans to merchant customers during the coronavirus pandemic. Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
Classifications
industries
Fintech & Banking
applications
E-Commerce & Retail
AskAI Classifications
Labels
E-commerce Software
SaaS
Developer Tools
Linked Companies
Shopify Inc.
$100M to $250M