Why Shopify Stock Popped Today
In case you haven't heard yet, Shopify (NYSE: SHOP) is partnering with Twitter (NYSE: TWTR) to make it easier to shop on social media. So far today, however, this news seems to be exciting investors in Shopify stock more than investors in Twitter.
As of 2:17 p.m. ET on Wednesday, Shopify shares were up 6%, but Twitter stock was up only 1%.
Twitter announced this morning that Shopify's merchant customers will be able to connect their Twitter accounts to their Shopify accounts, download a new sales channel app, and use it to sync their product catalogs to Twitter, TechCrunch reported today. Then the merchant (i.e., the Shopify customer) can advertise specific products on Twitter, and when a Twitter user clicks on such an ad, it can complete a sales transaction on the merchant's own website.
Source Fool.com
