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Shopify stock pops after company strikes 'Buy with Prime' deal with Amazon - TL;DR CNBC

Shopify stock pops after company strikes 'Buy with Prime' deal with Amazon

Publishing timestamp: 2023-08-31 16:17:45


Summary

Shopify has reached a deal with Amazon to integrate Amazon's Buy with Prime service into Shopify's app ecosystem. This allows Shopify merchants to tap into Amazon's Prime loyalty program and speedy delivery options. Initially, Shopify had warned its merchants against using Buy with Prime due to security risks, but now they have reached an agreement. Shopify's stock jumped 10% after the announcement. The feature is currently available by invitation only to some Shopify merchants, but will open up to all Shopify sellers who use Amazon's logistics services by the end of September. Amazon's stock also increased by 2% on the news.


Sentiment: POSITIVE

Tickers: AMZNSHOP-CASHOP

Keywords: technologybusiness newsinternetamazon.com incshopify incshoppingbreaking news: technology

Source: https://www.cnbc.com/2023/08/31/shopify-stock-pops-after-it-strikes-buy-with-prime-deal-with-amazon.html


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