Shares of the e-commerce platform company Shopify (NYSE: SHOP) popped by as much as 5.7% during today's trading. While there wasn't any company-specific news that was driving the stock up, investors are likely snatching up more shares in some tech stocks as ongoing coronavirus concerns could spur more e-commerce growth.
As of 2:08 p.m. EDT, Shopify's stock was up 5.4%.
Investors have flocked to technology stocks during the pandemic, looking for companies with businesses that can grow as people spend more time at home. Shopify has been one such stock because the company's e-commerce platform allows businesses of all sizes to sell goods and services to online shoppers.
Source Fool.com