Why Shopify Stock Is Climbing Today

Shares of Shopify Inc. (NYSE: SHOP) were rising today on no company-specific news. Instead, it appears that investors were reacting to positive quarterly results that another major e-commerce player, Amazon, reported yesterday. 

Shopify's share price had gained 8.9% as of 2:11 p.m. ET.

Many tech stocks were performing well today after Amazon beat analysts' consensus estimate for earnings in the company's fourth quarter. The e-commerce-giant's adjusted earnings per share were $5.80 for the quarter, blowing past Wall Street's expectation of $3.57 per share. 

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Source Fool.com