Shopify, MercadoLibre Rally While Upstart Sheds 23% in July

Shopify shares advanced during the week on evidence that smaller merchants are capturing a disproportionate share of purchases driven by AI shopping agents, a channel that routes buyers to catalogue listings rather than to established brand storefronts. MercadoLibre rose 11% in July, with the move attributed to investors positioning ahead of the Latin American e-commerce and payments company's quarterly report rather than to new operating disclosures. Upstart moved in the opposite direction, dropping 23% over the month. The AI lending platform remains sensitive to credit conditions and funding availability for the loans it originates through bank and institutional partners, and the decline reflects investor reassessment of those risks rather than a specific company announcement.