Shopify stock jumps more than 14% on news of Nasdaq 100 inclusion

Shopify Inc.’s stock is up more than 14 per cent on the first full day of trading since news emerged that the Canadian e-commerce giant would soon be added to the Nasdaq 100.

By Monday midday, Shopify was up 14 per cent in New York at US$104.63. Stocks were up 14.5 per cent in Canada at $146.45.

On Friday night, the Nasdaq announced Shopify would replace U.S. software company MongoDB Inc. on the index beginning on May 19.

Last week, Shopify reported quarterly earnings that showed a 27 per cent revenue growth as the company has yet to experience a drop off from Canada’s trade war with the United States.

“We’re of course monitoring for slowdowns, but our data through April shows little evidence of that,” Shopify president Harley Finkelstein said on a call with investors last week.

MongoDB’s stock is up 5.36 per cent in midday trading.

• Email: bcousins@postmedia.com

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