Shares of Shopify are moving higher after the company reported Black Friday sales increasing 17% year over year.
On Nov. 16, Muddy Waters Capital disclosed a short position in dLocal (NASDAQ: DLO). When a firm like Muddy Waters makes its position known, many investors get out quickly, which can cause the price to drop. Or is there something to Muddy Waters' position?
Shares of Shopify (NYSE: SHOP) climbed on Monday after the e-commerce infrastructure provider announced record-setting holiday sales. As of 3:15 p.m. ET, Shopify's stock price was up more than 3% after rising as much as 9% earlier in the day. Merchants on Shopify's platform generated a record $3.36 billion in Black Friday sales.