Why Shopify's Stock Is Trading Higher Today

Shopify SHOP shares are trading higher on Monday, continuing a streak of eight straight up sessions.

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 6.71% at $631.50 per share at the time of publication. The stock has a 52-week range between $644.95 and $216.62.