Shopify ($SHOP), the Canadian e-commerce platform company, isn't seeing the same pains that other competitors, like Toast, are suffering through - so far, at least. 

Shopify stock is faring far better than most in the market, although it was outpacing the public market for months before the Coronavirus pandemic derailed the trajectory of just about every company in the world. So far this year, its stock is up 6%. Next, it remains to be seen whether Shopfiy - and the companies that depend on its e-commerce platform - can regain their trajectory, or whether small businesses suffer and lag behind well-established legacy players.  

Social chatter supports the idea that both Shopify and the companies on its platform are maintaining some semblance of business despite the national shutdown. Facebook ($FB) Talking About Count has risen for Shopify since the crisis began, and following on both Facebook and Twitter has increased, at a bit higher pace than 2020 prior to the outbreak. 

There are no shortage of online retailers or companies dependent on their web and app sales platform now stuck slashing jobs, praying for federal bailouts, or a combination of the two. Shopify is mostly immune to this - although job postings are down 24% from March highs, at the most recent tally. It's still a far cry from the job posting cuts made at other companies, and the flood of layoffs and job listing cuts as other startups try to right-size their way through the downturn is a stark contrast to Shopify's good fortune. 

A recent blog post covering top brands using the platform covers a number of growing consumer and media companies. We won't get a better sense of Shopify's performance until its quarterly earnings for the first 90 days of 2020 are released, in early May. Analysts tracked by Zacks Investment Research are looking for EPS losses of -$0.69. 

About the Data:

Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

Further Reading: 

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