Shopify Inc SHOP shares are trading higher by $2.85 (5.3 percent) at $58.90 in Wednesday's session. The Canadian e-commerce company that develops computer software for online retailers and retail point-of-sale systems posted a Q4 EPS beat of $0.02 along with a $8.8 million revenue beat.
Despite the upbeat report and higher guidance, the issue opened lower but quickly bottomed under Tuesday's low ($55.15) at $54.30 and began to move higher. The ensuing rally has far surpassed its former all-time high that was made on Monday at $57.16, reaching $60.05, but has backed off that level.
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