2 Stocks That Saw Major Black Friday Boosts

These stocks saw a pretty amazing Black Friday, a sign that both are probably going to be a great buy for the upcoming year.

| More on:
online shopping

Image source: Getty Images

Black Friday has come and gone, but investors are still quite interested in what happened over the weekend. Especially when it comes to companies that have seen a boost from Black Friday sales. So let’s look at some stocks that saw a major boost from the weekend, and what this could mean for the future of these companies.


Shopify (TSX:SHOP) did it again, just as predicted. The stock enjoyed yet another record-setting Black Friday weekend with an incredible US$9.3 billion in sales over the weekend. This was a 24% increase from the year before! Many questioned whether it would happen given many shoppers have stated they plan on cutting back spending this year.

It looks like for Shopify stock that wasn’t the case. More than 61 million consumers around the world purchased products powered by Shopify stock. It peaked with collective sales reaching US$4.2 million per minute at 12:01 p.m. EST on Black Friday. Overall, consumers were in particular seeking out apparel, accessories, health, beauty, and home and garden items.

The average cart for the weekend came in at US$108.12, with top selling countries the United States, United Kingdom, Canada, and Germany. More importantly was a 60% increase in sales made through Shop Pay.

This could be huge for the next year, with payments proving to be where a huge amount of income can come in. As subscriptions continue, this weekend proved to potential merchants that Shopify stock remains a top choice for future merchant growth. And for investors, the stock isn’t done yet at $100 per share.


Nuvei (TSX:NVEI) may not have put out data like Shopify, but it’s clear the point-of-sale (POS) company was prepared for Black Friday and Cyber Monday traffic. The company’s website touts its ability to take on any type of traffic, even with a huge increase from Black Friday discount seekers.

And it seems these discount seekers came out in bulk. Spending by Americans hit a record US$9.8 billion over Black Friday weekend. What’s more, they were mainly those hunting online for a deal.

Nuvei stock would have certainly seen similar momentum to Shopify stock, following a major uptick in sales from its clients. And it’s at a time when the company needs it, as Nuvei stock recently reported a loss of US$18 million compared to a US$13 million profit the year before.

For now, though, Nuvei stock certainly looks like more of a deal compared to Shopify stock. Shares are still down 30% in the last year due to the fall in ecommerce and tech stocks. Yet shares have recovered about 56% in the last month alone. So with good news coming in about sales climbing to record highs, now could be a great time to consider Nuvei stock as well.

Bottom line

While record results from Nuvei stock and Shopify stock are interesting, what’s even more promising is the future of the market. With record sales across the world, and these companies getting a piece, it shows that consumers are back out again. This could be the drive we need to push us into a bull market. Especially as interest rates and inflation continue to get under control.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe has positions in Shopify. The Motley Fool has positions in and recommends Nuvei and Shopify. The Motley Fool has a disclosure policy.

More on Tech Stocks

cryptocurrency, crypto, blockchain
Tech Stocks

Everyone Is Talking About Chip Stocks: Are They a Good Long-Term Option?

Chip stocks have been all the rage, but what are long-term investors really in for by buying them on the…

Read more »

Wireless technology
Tech Stocks

3 Tech Stocks You Can Buy and Hold for the Next Decade

Are you looking for Canadian tech stocks that could be multi-baggers in the decade ahead. Here are three small-cap stocks…

Read more »

Businessman holding AI cloud
Tech Stocks

3 Top Artificial Intelligence Stocks to Buy in March

AI stocks are the future, but what about the companies already using it for their own advantage? Here are three…

Read more »

retirees and finances
Tech Stocks

Should You Wait Till 70 To Claim CPP Benefits?

You can earn the maximum CPP payout if you wait till 70 to claim the benefit. But is the wait…

Read more »

financial freedom sign
Tech Stocks

1 Tech Stock Has Created Millionaires and Will Continue to Make More

Are you interested in a tech stock that has created millionaires? Find out which stock that is!

Read more »

Business man on stock market financial trade indicator background.
Tech Stocks

This Growth Stock Is Down 26%: Buy, Sell, or Hold?

While many growth stocks took to the sky after the December 2023 earnings, this one growth stock fell 26%. Should…

Read more »

question marks written reminders tickets
Tech Stocks

BlackBerry Stock Is at a 20-Year Low: Is it a Buy?

BlackBerry has been through several ups and downs. But this time, the stock is at its 20-year low. Is this…

Read more »

Two seniors float in a pool.
Tech Stocks

Could Nuvei Stock Help You Become a Millionaire?

Nuvei stock is favourably priced today for growth focused investors to buy. Could the stock enhance your chances to build…

Read more »