Why Shopify Stock Jumped Double Digits Today

Shares of Shopify (NYSE: SHOP) were soaring today even though there was no direct news out on the stock. Instead, a combination of factors seemed to contribute to its gains, including outperformance in the tech sector today, weak reports by brick-and-mortar retailers, and the perception that the stock is undervalued.

As of 1:06 p.m. ET, shares were up 12.1%.

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Source Fool.com