Shares of luxury e-commerce site Farfetch (FTCH) take off amid a Telegraph report stating the company is considering going private, exiting its turbulent New York Stock Exchange tenure that saw a 90% value decline since its 2018 IPO. Although Shopify (SHOP) achieved $9.3 billion in record Cyber Weekend sales, up 24% year-over-year, Piper Sandler downgraded the stock from "Neutral" to "Underweight." Despite the company's success, analysts cut targets due to what they deemed an "untenable" valuation. Yahoo Finance's Josh Lipton and Julie Hyman break down the details of these trending tickers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Shopify went public in 2015 and has rewarded shareholders with returns in excess of 2,600%. The company helps millions of merchants build out an e-commerce presence, which has resulted in hundreds of millions of people buying from Shopify merchants annually. Shopify's place in the e-commerce ecosystem is important and won't be going away for the foreseeable future.
For Shopify (NYSE: SHOP), it has clearly changed for the better after it spun off its highly unprofitable logistics business. Now that Shopify has returned to its roots and is focusing on its software and payment processing products, its results have improved. Shopify equips small and medium-sized businesses with the tools and resources to compete against many e-commerce giants.