Why Shopify Stock Soared on Wednesday
Shares of Shopify (NYSE: SHOP) rallied on Wednesday, surging as much as 10.1%. As of 2:11 p.m. ET, the stock was still up 9.5%.
The rise was particularly notable, as each of the three major market indexes were in the red. The catalyst that sent the e-commerce platform provider higher was the revelation of an across-the-board price increase.
Shopify said late Tuesday that it would be raising prices for all merchants that use its platform, with monthly plan prices rising 33%, on average. Here's a look at the increases:
Source Fool.com
