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It Might Be Time to Go Shopping With This Shopify ETF

BY | ETF Database
6:33 am ET 08/13/26 | 10 VIEWS
Shares of Shopify Inc. (SHOP) surged last week after the Canadian e-commerce technology provider delivered an estimate-thumping second-quarter earnings report. That allayed investors’ fears about the company’s purported artificial intelligence (AI) vulnerabilities.The earnings report was just what the doctor ordered for traders using the Direxion Daily SHOP Bull 2X ETF (SHPU ) to play the update. SHPU attempts to deliver 200% of the daily performance of Shopify’s Class A shares. It finished the week with a gain of about 60%; it is indeed a potent play on the underlying stock. Yes, Shopify’s earnings report is now in the rearview mirror. However, other catalysts on the horizon could make the year-old SHPU worth considering by risk-tolerant short-term traders.Sizing Up SHPU OpportunityThere’s no denying that the leveraged SHPU is best treated as what it is: a short-term trading instrument. But with that in mind, there may be post-earnings opportunities to make use of the Direxion ETF. Indeed, the tide is turning in favor of Shopify shares. “Overall trends are generally comparable to the last several quarters in terms of gross merchandise volume performance, which was strong,” said Morningstar equity analyst Dan Romanoff. “Management noted that while it is still early, the company is seeing strong growth in agentic commerce even as traditional search remains robust.” Another point solidifies the case for both Shopify stock and the occasional use of SHPU. As Romanoff noted, the stock has been a baby thrown out with the bathwater. Consider “the bathwater” the broader universe of software stocks, hammered earlier this year. Much of the weakness experienced by the stock earlier this year was more guilt by association, not direct commentary on Shopify’s fundamentals. Confirming the notion that Shopify likely received overly severe punishment, some analysts think that AI will benefit the company. “Shopify could be a core beneficiary of the shift toward AI-driven, agentic commerce rather than being disintermediated by it. We see Shopify’s backend infrastructure, such as checkout and payments, as increasingly central to AI-native transactions, potentially supporting future revenue growth,” wrote Tal Liani of Bank of America in a note out last month. For traders that can stomach volatility, SHPU is a geared ETF to watch over the coming weeks.For more news, information, and analysis, visit the Leveraged & Inverse Content Hub.

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