CART, EBAY, and SE are three e-commerce stocks investors should be watching
Amazon.com (AMZN) and Alibaba (BABA) usually dominate the headlines in the e-commerce space, no surprise considering their combined market cap surpasses $2 billion. However, there are other stocks in the sector with intriguing technical setups that are worth monitoring.
Shares of Instacart parent Maplebear (NASDAQ:CART) are down 3.4% to trade at $32.64 at last check, even after the company expanded its Rite Aid (RAD) partnership to now accept the Electronic Benefits Transfer (EBT) card for the Supplemental Nutrition Assistance Program (SNAP) as an online payment option. CART had its Wall Street debut in September, and has added 38.9% so far in 2024.
eBay Inc (NASDAQ:EBAY) today announced Venmo will become a payment option for U.S. customers in the coming week. The equity was last seen up 1.1% to trade at $53.77, and remains very close to its May 28, two-year high of $55.15, thanks to a floor at its ascending 50-day moving average. EBAY also sports a 23.1% year-to-date lead.
Sea Ltd (NYSE:SE) stock is up 1.2% to trade at $74.78 at last glance, though no specific catalyst is at play. The shares earlier hit a fresh 52-week high of $75.57, and are on track for their
10th consecutive gain after bouncing off their 30-day trendline on May 30. SE sports a 98.9% six-month lead and is 17% higher year-over-year.