Ecommerce: Shopify surpasses Q1 estimates and sells delivery business to Flexport

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PREMOSULTRAA joined discussion · May 4, 2023 22:08

Shopify cuts 20% of workforce, stock price goes up 20%

$Shopify(SHOP.US)$ on Thursday announced it’s cutting 20% of its workforce. The news came as it reported first-quarter earnings that beat analyst estimates on both the top and bottom lines.
Shares of Shopify closed up 23% on Thursday.

Shopify is also selling 6 River Systems, the warehouse robot maker it acquired in 2019 for $450 million, to U.K. retail tech company Ocado. Terms of the Flexport and Ocado deals weren’t disclosed.

AND... $Shopify(SHOP.US)$ CEO anthonynoto bought another 50,000 shares on the open market

$Amazon(AMZN.US)$ $Nasdaq Composite Index(.IXIC.US)$ $SPDR S&P 500 ETF(SPY.US)$ $S&P 500 Index(.SPX.US)$

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