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An update from Emerge Commerce Ltd ( (TSE:ECOM) ) is now available.
EMERGE Commerce Ltd. announced the sale of its premium web domains, Shop.ca and Shop.us, to Shopify Inc. for US$375,000. This transaction allows EMERGE to redirect its focus on its core business areas, specifically in the grocery and golf sectors, while boosting its cash reserves to over $3 million. The sale concludes a transformative year for EMERGE, characterized by renewed organic revenue growth, improved profitability, and reduced debt. The company plans to continue monetizing non-core assets to strengthen its financial position and support growth in the coming year.
More about Emerge Commerce Ltd
EMERGE Commerce Ltd. is a premium e-commerce brand portfolio operating in Canada and the U.S. The company focuses on subscription and marketplace e-commerce properties across grocery and golf verticals. Its grocery businesses include truLOCAL, a premium meat and seafood subscription brand, and Carnivore Club, an artisanal meat brand. In the golf sector, EMERGE operates UnderPar, which offers discounted tee-times and experiences, and JustGolfStuff, a brand for golf products and apparel.
YTD Price Performance: -10.0%
Average Trading Volume: 162,987
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$6.26M
Learn more about ECOM stock on TipRanks’ Stock Analysis page.
