A down-channel chart pattern has formed in the chart of Global-e Online Ltd. (GLBE). This occurs through a combination of a trend line support that runs parallel to a trend line resistance. If the stock breaks through its resistance, a breakout is expected. Read more to learn how to take advantage of this trade. .Global-e Online Ltd. (GLBE) provides e-commerce solutions. It offers a platform to enable and accelerate global, direct-to-consumer cross-border e-commerce. The platform was purpose-built for international shoppers to buy seamlessly online and for merchants to sell from, and to, anywhere in the world.
GLBE is a fairly recent IPO that essentially simplifies cross-border commerce by supporting multiple languages and currencies. In fact, the company has a first-mover advantage in a market with massive opportunity. So far, the firm has shown robust performance as management raised its full-year guidance.
As of the end of the second quarter the company had $488 million in cash, which compares favorably to only $3 million in cash. From a growth standpoint, things look up as analysts expect earnings to jump 185.7% next year.