Why Did Shopify Stock Rise 12% Last Month?

Shares of Shopify (NYSE: SHOP) climbed 11.7% in June, according to data provided by S&P Global Market Intelligence. Positive economic data for the e-commerce industry had investors bullish early in the month, but that momentum stalled after the Federal Reserve announced its decision to maintain interest rates.May's economic indicators were reported in June, and retail sales are an important metric for Shopify investors. Retail sales increased 0.2% from April, bringing full-year growth to 2%. That was slightly slower than expected, and it represents contraction if you consider the 3.3% increase in consumer prices, according to CPI data. Consumers continue to struggle with inflation, high borrowing costs, and a weakening job market. Conditions are tough for retailers right now.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool