Advertisement
Singapore markets closed

  • Straits Times Index

    3,290.70
    +24.75 (+0.76%)
     

  • Nikkei

    38,229.11
    +155.13 (+0.41%)
     

  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     

  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     

  • Bitcoin USD

    60,777.08
    -2,074.39 (-3.30%)
     

  • CMC Crypto 200

    1,261.13
    -96.88 (-7.13%)
     

  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     

  • Dow

    39,512.84
    +125.08 (+0.32%)
     

  • Nasdaq

    16,340.87
    -5.40 (-0.03%)
     

  • Gold

    2,366.90
    +26.60 (+1.14%)
     

  • Crude Oil

    78.20
    -1.06 (-1.34%)
     

  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     

  • FTSE Bursa Malaysia

    1,600.67
    -0.55 (-0.03%)
     

  • Jakarta Composite Index

    7,088.79
    -34.81 (-0.49%)
     

  • PSE Index

    6,511.93
    -30.53 (-0.47%)
     

BigCommerce Triples in IPO, Joining a Crowded Online Field

Investing.com
·1-min read

By Christiana Sciaudone

Investing.com -- BigCommerce shares more than tripled on their first trading day, and were halted twice on volatility.

The initial public offering priced at $24, above the expected range of $18 to $20, and is now trading above $90 in the afternoon session. The e-commerce business is getting crowded, as Bigcommerce Holdings Inc (NASDAQ:BIGC) joins Shopify Inc (NYSE:SHOP), which has more than doubled this year to trade above $1,000.

For merchants looking at where and how to sell their wares, they can also tap Amazon.com Inc (NASDAQ:AMZN), eBay Inc (NASDAQ:EBAY), and Etsy Inc (NASDAQ:ETSY), among other online marketplaces.

ADVERTISEMENT

BigCommerce has a way to go to catch up with its rivals. Revenue in the second quarter is estimated at between $35.5 million and $35.8 million. That compares to Shopify’s $714.3 million in sales for the second quarter.

Last week, Shopify reported quarterly earnings that beat estimates, with earnings per share of $1.05 compared to the average analyst forecast of 1 cent. Amazon also blasted through expectations when it reported last week, with earnings per share of $10.30 compared to the average forecast of $1.48. Rival eBay bested forecasts, but by a smaller margin, with EPS of $1.08 versus the expected $1.05.

Etsy reports results after the close on Wednesday.

Related Articles

Apollo-owned Rackspace slumps more than 20% on Nasdaq debut

Goldman Sachs aims for 7% of staff to be black, 9% to be Latino by 2025

After Trump fired his predecessor in May, acting State Department IG says he is leaving too