Why Shopify's Stock Is Trading Higher Today

Shopify Inc SHOP shares are trading higher Thursday amid strong e-commerce trends.

Mastercard SpendingPulse data showed US retail sales grew 9.2% in January, with online sales up 62.1% year over year.

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 shares were trading up 3.26% at $1,263. The stock has a 52-week high of $1,285.18 and low of $305.30.