On July 7, Shopify rose 3.72% in regular trading, trading at $122.69/share, with turnover of $288 million. The stock traded near its intraday high, continuing upward momentum from pre-market gains.

On the catalyst front, Shopify continues to benefit from its expanded stock repurchase program. In early June, the company's board approved a $3 billion increase to its buyback authorization, bringing the total program size to $5 billion. As of the announcement, Shopify had already repurchased $1.45 billion of shares under the existing plan. The expanded program, which became effective June 8, signals management confidence in the company's long-term prospects and robust cash flow generation.

Additionally, broader sector strength in AI-related software names provided a tailwind. Within the Internet Services & Infrastructure sector, DigitalOcean gained 6.19% and Cloudflare rose 2.78%, while CoreWeave fell 5.23% and Applied Digital declined 4.54%. Deutsche Bank has previously highlighted Shopify's AI assistant Sidekick and strong European market performance as key growth drivers toward its full-year revenue growth targets in the low-30% range.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)