Shopify (SHOP) : Traders are getting increasingly bearish on Shopify (SHOP), as can be seen in the addition of short positions from 1,529,251 on Jul 29, 2016, to 1,796,877 on August 15, 2016. The net change in shorts is 267,626 shares, an increase of 17.5%. 1 days remain before the expiry. The 3.5% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 1,428,738. The short interest information was released on Wednesday Aug 24th after the market close.
Shopify (NYSE:SHOP): The stock opened at $41.88 on Wednesday but the bulls could not build on the opening and the stock topped out at $42.65 for the day. The stock traded down to $40.71 during the day, due to lack of any buying support eventually closed down at $40.94 with a loss of -1.96% for the day. The stock had closed at $41.76 on the previous day. The total traded volume was 792,621 shares.
Shopify Inc. is a Canada-based company that provides a cloud-based commerce platform for small and medium-sized businesses. The Companys platform lets users to create their own online store. The Companys platform provides merchants to design, set up and manage their stores across multiple sales channels, including Web, mobile, social media, brick-and-mortar locations, and pop-up shops. Its platform provides a merchant a single view of their business. Its platform also provides merchants to manage all aspects of their shops: uploading products, customizing the design, accepting credit cards, and viewing their incoming orders and completed transactions. Its platform lets users to sell fashion, electronics, sporting goods, furniture and food, among others. The Companys platform offers over 900 applications.