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Best Stocks To Buy Today? 4 E-Commerce Stocks To Know

Top E-commerce Stocks To Buy Right Now 

As the stock market continues to drift sideways this week, investors remain cautious about the lack of direction. That said, e-commerce stocks could be picking up pace today. Some parts of the world celebrate November 11 as the biggest shopping day in the calendar year. This was originally started in China by Alibaba Group (NYSE: BABA) back in 2009 and now many countries are adopting it as well. With the pandemic highlighting the convenience of e-commerce, consumers are spending more than ever before through online shopping. So, does it surprise you that companies such as Amazon.com (NASDAQ: AMZN) and Alibaba are some of the largest companies in the world by market capitalization?  

Well, it could just be the tip of an iceberg for this multi-billion industry. We have seen industry leaders such as Alibaba expanding internationally with great intent over the past few years. Now, even the likes of JD.Com (NASDAQ: JD) which predominantly has its presence in China are showing intent in overseas investments. Over the coming years, the company will “increase investment in countries that conform to JD’s strategies, no matter if it is on warehousing, logistics, or supply chain,” said Xin Lijun, the newly appointed chief executive of JD’s retail business, according to a CNBC translation. Given these considerations, could the e-commerce space continue to grow? If so, let us take a look at some of the top e-commerce stocks in the stock market right now. 

Best 4 E-Commerce Stocks To Buy [Or Sell] Today

Carvana

To kick start the list, we have the e-commerce platform for buying used cars, Carvana. Through its platform, consumers can research and identify a vehicle by leveraging imaging technologies to have a 360-degree view of the vehicle. Whether it is to obtain financing, purchase a vehicle, or schedule delivery, all these can be done through a desktop or mobile device.  

Last Friday, the company announced its third-quarter financial results. It was able to deliver over 110,000 cars to its customers for the quarter, representing a growth of 74% year-over-year. This lays the foundation necessary to achieve the company’s target of selling over 2 million cars per year. To say the least, this is yet another successful quarter for Carvana as it remains on track to meet its target. 

On top of that, Carvana also announced a partnership with Hertz in late October. This introduces a new way for customers to save time and money through online car buying and shopping. Hertz will utilize Carvana’s online transaction technology and logistics network to expand vehicle disposition channels. Safe to assume, the collaboration will benefit both companies in the long run. Given these positive developments, would you consider buying CVNA stock today? 

Source: TD Ameritrade TOS

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Shopify 

Another top e-commerce company to notice now would be Shopify. Essentially, the company provides a cloud-based, multi-channel commerce platform for

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