Here's Why Shopify Rallied More Than 17% in June
Shares of e-commerce outfit Shopify (NYSE: SHOP) gained 17.5% last month, according to data provided by S&P Global Market Intelligence. Most of this progress was made in the middle of the month, first following the unveiling of a new "buy now, pay later" payment option, and then in response to Shopify's decision to make its payments platform, Shop Pay, available for use outside of the company's e-commerce platform. Notably, marketers relying on Facebook and Alphabet's Google will be able to utilize Shop Pay.
Shopify is of course the young company that does things differently than the king of e-commerce, Amazon. Rather than requiring merchants to list merchandise at a marketplace website where it competes with similar goods, Shopify equips online sellers with their own customized e-commerce platform. The company is now leveraging its brand name to venture into new areas of the e-commerce arena.
One of these areas is online payments. Shopify's Shop Pay will soon be available to facilitate sales at Facebook as well as Instagram, and later this year, for users of Google's online-selling platform.
Source Fool.com
