Why Shopify Stock Jumped Today
Shares of Shopify (NYSE: SHOP) were trading higher today on seemingly no company-related news. Investors are likely continuing their positive sentiment toward the e-commerce platform company as businesses continue to rely on Shopify to sell their goods and services online during the pandemic.
The tech stock was up by as much as 8.4% today and had gained 6.7% as of 1:54 p.m. EST.
Shopify's stock has surged this year as lockdowns and social distancing pummeled in-store shopping, leaving many businesses to turn to e-commerce sales to sell their goods and services. Investors followed them to Shopify and have pushed the company's share price up 195% this year.
Source Fool.com
