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Shopify (NYSE:SHOP) stock is on the rise Thursday as investors react to a deal between it and e-commerce giant Amazon (NASDAQ:AMZN).
According to a news release from Amazon, this deal allows customers to make use of the “Buy with Prime” benefit on Shopify. This is available with merchants that support the feature and offer the same benefits, such as fast and free shipping.
Investors will note that some Shopify merchants have already been using Buy with Prime but have done so independently. With this change, Shopify merchants can start using Amazon’s logistics to fulfill orders in September.
Daniel Debow, vice president of product partnerships at Shopify, said the following about the deal:
“Our merchants care deeply about choice, and this new app will give them a new way to meet their customers where they are. More choice means more ways for our merchants to succeed, and that’s why we’re excited to collaborate with Amazon on the Buy with Prime app for Shopify.”
How This Affects SHOP Stock
Investors in Shopify are excited about the e-commerce platform officially teaming up with Amazon. That makes sense, as Amazon is a big player in the space. Utilizing its logistics platform makes it easier for merchants to send products while potentially drawing in Amazon Prime users.
SHOP stock is up 6.4% as of Thursday morning.
Investors can find out more about the latest stock market news today below!
We have all of the hottest stock market coverage traders need to know about on Thursday! Among that is what’s moving shares of Palantir (NASDAQ:PLTR), Axcella Health (NASDAQ:AXLA), and Acer Therapeutics (NASDAQ:ACER) stock today. All of that news is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.