Why Shopify's Stock Jumped Today

Shares of Shopify (NYSE: SHOP) popped today, seemingly on no company-related news. Investors may be pushing the stock higher in anticipation of the upcoming first-quarter 2021 results that will be released on April 28.

The tech stock was up by 5.6% as of 3:06 p.m. EDT on Monday.

Shopify benefited from lockdowns and social distancing as businesses of all sizes turned to the company's platform to stay up and running in 2020. And even with several vaccines available in the U.S. and the economy beginning to reopen, analysts are still anticipating strong growth in Shopify's upcoming results.

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Source Fool.com