Latest news with #ShopifyInc
Yahoo
9 hours ago
- Business
- Yahoo
Was Jim Cramer Right About Shopify Inc. (SHOP)?
We recently published a list of . In this article, we are going to take a look at where Shopify Inc. (NASDAQ:SHOP) stands against other stocks that Jim Cramer discusses. In that older episode, a caller asked whether it was time to buy back into Shopify Inc. (NASDAQ:SHOP), which had dropped roughly 20% following a disappointing earnings report. Cramer wasn't ready to recommend buying more just yet, urging caution and patience. He said: 'I think you can hold Shopify… You know, Shopify did miss, it did have some issues. I think you actually have to wait till the next quarter, see if those issues are resolved. There was a spending issue — they didn't seem to need to spend more to get business. I do like the company very much, but I'm not going to just send you in when it's not the sector in the market that's doing well.' Cramer was right to like Shopify as the stock has risen by +76.06% over the past year. Shopify Inc. (NYSE:SHOP) is a Canadian e-commerce platform that enables businesses of all sizes to create online storefronts, process payments, and manage inventory and logistics. Cramer commented on the stock's weird performance following its earnings reports and said something positive about it on May 2: 'Thursday, we get Shopify's numbers. Here's another stock that tends to sell off on good news and then rallies when people parse it out and realize that, wow, this company's more than just a poor man's Amazon.' An enthusiastic customer completing a purchase and receiving an order confirmation via one of the companies online sales channels. Overall, SHOP ranks 7th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of SHOP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
4 days ago
- Business
- National Post
Shopify scores win over Canada Revenue Agency in merchant-data case
Shopify Inc. has come out on top of a battle with the Canada Revenue Agency. Article content A federal court order issued Thursday shows Judge Guy Regimbald sided with the Canadian tech company, which was fighting the CRA's attempt to get more than six years of Shopify records. Article content The records were being sought in order to verify that Canadian merchants using Shopify software were obeying the Income Tax Act and the Excise Tax Act. Article content The CRA wanted the names of individuals who own Shopify accounts, their birthdates, addresses, phone numbers and their bank transit, institution and account numbers. Article content It also asked for their Shopify ID numbers, what type of store they ran, when their Shopify accounts were activated or closed and how many transactions and their value were made over the six-year period the CRA was interested in. Article content Some of the information had been requested by the Australian Tax Office, which wanted to ensure Shopify merchants were complying with the country's laws. A separate case Judge Regimbald presided over saw the CRA ask for court permission to obtain and send the records to Australia. Article content CRA spokesperson Sylvie Branch said the agency is aware of the court's decision and 'is currently analyzing the case details and associated information.' Article content Shopify pointed The Canadian Press to a post on X from its CEO, Tobi Lutke, who shared the outcome of his company's court battle and called the CRA's behaviour 'blatant overreach.' Article content Article content CRA demanded 6 years of Canadian merchant data from us. This felt like blatant overreach We took them to court and last Friday Justice Régimbald agreed with us. The court dismissed the request and called it '… unintelligible, incoherent, or otherwise beyond its understanding' — tobi lutke (@tobi) June 1, 2025 Article content Shopify fought the CRA in both cases when they were filed in 2023, insisting the group of merchants the agency wanted information for was 'overly broad and inconsistently defined.' Article content Article content The company also claimed a multilateral tax treaty being used to seek the information for Australia 'is without domestic force' when information about unnamed people is being requested. Article content Regimbald ultimately decided not to order Shopify to turn over the records to the CRA because he found the tax agency had not outlined an identifiable group of individuals whose data it wanted. Article content He said the court would not entertain a request to hand over information on unnamed parties 'that is unintelligible, incoherent, or otherwise beyond its understanding.' Article content
CTV News
4 days ago
- Business
- CTV News
Shopify wins court battle against Canada Revenue Agency in merchant-data case
The Ottawa headquarters of Canadian e-commerce company Shopify are pictured on Wednesday, May 29, 2019. THE CANADIAN PRESS/Justin Tang Shopify Inc. has come out on top of a battle with the Canada Revenue Agency. A federal court order issued Thursday shows Judge Guy Régimbald sided with the Canadian tech company, which was fighting the CRA's attempt to get more than six years of Shopify records. The records were being sought in order to verify that Canadian merchants using Shopify software were obeying the Income Tax Act and the Excise Tax Act. The CRA wanted the names of individuals who own Shopify accounts, their birthdates, addresses, phone numbers and their bank transit, institution and account numbers. It also asked for their Shopify ID numbers, what type of store they ran, when their Shopify accounts were activated or closed and how many transactions and their value were made over the six-year period the CRA was interested in. Some of the information had been requested by the Australian Tax Office, which wanted to ensure Shopify merchants were complying with the country's laws. A separate case Judge Régimbald presided over saw the CRA ask for court permission to obtain and send the records to Australia. CRA spokesperson Sylvie Branch said the agency is aware of the courts decision and 'is currently analyzing the case details and associated information.' Shopify pointed The Canadian Press to a post on X from its CEO Tobi Lütke who shared the outcome of his company's court battle and called the CRA's behaviour 'blatant overreach.' Shopify fought the CRA in both cases when they were filed in 2023, insisting the group of merchants the agency wanted information for was 'overly broad and inconsistently defined.' The company also claimed a multilateral tax treaty being used to seek the information for Australia 'is without domestic force' when information about unnamed people is being requested. Régimbald ultimately decided not to order Shopify to turn over the records to the CRA because he found the tax agency had not outlined an identifiable group of individuals whose data it wanted. He said the court would not entertain a request to hand over information on unnamed parties 'that is unintelligible, incoherent, or otherwise beyond its understanding.' As part of his order, Régimbald requested the CRA pay legal costs of $45,000 in each case, bringing the government's bill to $90,000. This report by The Canadian Press was first published June 2, 2025.
Yahoo
23-05-2025
- Business
- Yahoo
Shopify Inc. (SHOP) Launches AI Store Builder for Merchants as Part of Latest Updates
On Wednesday, Shopify Inc. (NASDAQ:SHOP) rolled out a series of new AI-powered features designed to enhance customer experience. These included the 'AI Store Builder' to help merchants quickly set up online storefronts using descriptive keywords. While the company has launched several AI tools in the past, this is the first integrated feature that fully automates the website creation process. The AI Store Builder uses a single prompt to generate three store layouts with text and images, simplifying the onboarding process for merchants designing their online presence. Vanessa Lee, Vice President of Product at Shopify Inc. (NASDAQ:SHOP) stated the following on the AI Store Builder: "Instead of just having a merchant click and drag and fill out text fields on how they want their site to look - which can be really daunting for some - we thought why not ask them more open-ended questions and set up their store in the best likeness we can imagine, using AI.' An enthusiastic customer completing a purchase and receiving an order confirmation via one of the companies online sales channels. Shopify Inc. (NASDAQ:SHOP) also introduced 'Horizon', a theme foundation that allows users to create and customize their storefronts by using preset designs or generating their own from scratch. Additionally, the company also levelled up 'Sidekick'. It can now solve more complex problems when users ask questions through voice or chat. These recent updates are part of Shopify Inc. (NASDAQ:SHOP)'s broader push into artificial intelligence to draw more merchants to its platform. While we acknowledge the potential of SHOP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SHOP and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Shopify Inc. (SHOP) Launches AI Store Builder for Merchants as Part of Latest Updates
On Wednesday, Shopify Inc. (NASDAQ:SHOP) rolled out a series of new AI-powered features designed to enhance customer experience. These included the 'AI Store Builder' to help merchants quickly set up online storefronts using descriptive keywords. While the company has launched several AI tools in the past, this is the first integrated feature that fully automates the website creation process. The AI Store Builder uses a single prompt to generate three store layouts with text and images, simplifying the onboarding process for merchants designing their online presence. Vanessa Lee, Vice President of Product at Shopify Inc. (NASDAQ:SHOP) stated the following on the AI Store Builder: "Instead of just having a merchant click and drag and fill out text fields on how they want their site to look - which can be really daunting for some - we thought why not ask them more open-ended questions and set up their store in the best likeness we can imagine, using AI.' An enthusiastic customer completing a purchase and receiving an order confirmation via one of the companies online sales channels. Shopify Inc. (NASDAQ:SHOP) also introduced 'Horizon', a theme foundation that allows users to create and customize their storefronts by using preset designs or generating their own from scratch. Additionally, the company also levelled up 'Sidekick'. It can now solve more complex problems when users ask questions through voice or chat. These recent updates are part of Shopify Inc. (NASDAQ:SHOP)'s broader push into artificial intelligence to draw more merchants to its platform. While we acknowledge the potential of SHOP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SHOP and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: ChatGPT Stock Advice: Top 12 Stock Recommendations and 10 Cheap Rising Stocks to Buy Right Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
