Shopify Inc SHOP shares are trading lower by 2.4% Friday as the Benzinga newsdesk is hearing Morgan Stanley is working on a 1 million share block trade in the name, priced around $1,000 per share.
The e-commerce platform trading is also trading lower amid a rotation out of e-commerce stocks and into sectors that would benefit from a post-pandemic economic reopening.
Shopify offers an e-commerce platform primarily to small and midsize businesses. The e-commerce company has two leading segments that drive revenue: subscriptions and merchant solutions.
The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks and social networks.
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