Why Shopify's Stock Is Trading Higher Today

Shopify Inc SHOP shares were trading higher Friday.

The strength is potentially related to increased interest and usage of online retail platforms amid the coronavirus pandemic. The company's CTO last week said the company's platform was experiencing high levels of traffic.

Shopify is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.

Shopify's stock was trading up 3.38% at $641.44 at the time of publication Friday. The stock has a 52-week range between $665.74 and $216.62.

Related Link: Shopify Reports Big Q4 Earnings Beat