Walmart (NYSE: WMT) still has its eyes locked on beating Amazon (NASDAQ: AMZN) in e-commerce by launching a new initiative targeting small- and medium-sized businesses (SMBs). Called Walmart Business+, it seeks to simplify purchases made by businesses through a curated list of 100,000 products such as office supplies, furniture, food and beverage, restroom items, electronics, and classroom and facility needs. It is yet another initiative in a series that Walmart has begun to woo businesses away from its rival, which has offered small- and medium-sized companies various services for years.
Shopify (NYSE: SHOP) and Etsy (NASDAQ: ETSY) both caught Wall Street's attention recently when the companies announced big price increases. Etsy raised the fees that it charges sellers for access to its platform; Shopify said it is boosting its monthly and annual fees by over 30%. Shopify easily wins the growth matchup.
Shares of Shopify (NYSE: SHOP) were pulling back today on a pair of conflicting analyst notes on the stock. Additionally, the broader sell-off in tech stocks today also seemed to weigh on Shopify shares. Pinpointing the threat from Amazon's Buy with Prime program that is set to roll out to all eligible vendors tomorrow, UBS analyst Kunal Madhukar reiterated a sell rating on Shopify.