Auto Draft

We recently published a list of Why These 10 Stocks Soared by Double Digits Today. In this article, we are going to take a look at where Shopify Inc. (NASDAQ:SHOP) stands against other stocks that soared by double digits today.

The stock market kicked off the trading week brimming with optimism after the US and China announced a tariff truce on each other’s goods.

The tech-heavy Nasdaq booked the largest gains among the three major indices, rallying 4.85 percent. The S&P 500 followed with a 3.26-percent increase, and the Dow Jones, with 2.81 percent.

Over the weekend, the US and China reached a 90-day deal to lower tariffs on each other’s imports. US taxes on Chinese imports will drop to 30 percent from 145 percent previously, while China’s tariffs on US imports will drop to 10 percent from 125 percent earlier.

Beyond the major indices, 10 companies finished the week stronger, booking double-digit gains during the day. In this article, we name Monday’s 10 top performers and detail the reasons behind their strong performance.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

An enthusiastic customer completing a purchase and receiving an order confirmation via one of the companies online sales channels.

Shopify Inc. (NASDAQ:SHOP)

Shopify Inc. saw its share prices jump as high as 15.85 percent at intra-day trading on Monday before ending the day just up by 13.70 percent at $104.34 apiece, as investors cheered news of its inclusion in the Nasdaq 100.

Last week, Nasdaq announced that Shopify Inc. (NASDAQ:SHOP) will replace software company MongoDB Inc. on the Nasdaq 100 beginning May 19. The announcement followed the release of a strong earnings performance in the first quarter of the year.

During the period, Shopify Inc. (NASDAQ:SHOP) said net income, excluding the impact of equity investments, increased by 56 percent to $226 million from $144 million in the same period last year, as revenues rose by 26.8 percent to $2.36 billion from $1.86 billion year-on-year.

Shopify Inc. (NASDAQ:SHOP) said that the strong figures marked its eighth consecutive quarter of pro forma revenue growth and seventh straight quarter of GMV growth.

“We built Shopify for times like these. We handle the complexity so merchants can focus on their customers. We ship products faster than anyone else, giving merchants the edge they need to succeed,” said President Harley Finkelstein.

Overall, SHOP ranks 10th on our list of stocks that soared by double digits today. While we acknowledge the potential of SHOP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SHOP but that trades at less than 5 times its earnings, check out our report about this cheapest 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.