Shopify (NYSE:SHOP) stock is on the move Thursday as investors react to news of a partnership with Alphabet’s (NASDAQ:GOOGL, NASDAQ:GOOG) YouTube.
Let’s go over everything investors need to know about this deal.
- This partnership has YouTube allowing eligible channels to feature their own merchandise on their page.
- That lets them link to their Shopify stores, which includes real-time data on the supply of goods.
- With this feature, content creators in the U.S. can allow viewers to purchase their merchandise without ever leaving YouTube.
- This partnership also gives creators more control over how their products show up on their channels.
- In addition to that, creators can also tag products during livestreams and videos.
- This makes it so that viewers can get direct links to these products while watching.
- That doesn’t have to be goods from the channel and can instead be from other brands.
- This is all part of YouTube’s plan to beef up its platform as a destination for purchases to take place.
- That would help it generate extra revenue, as well as bring in more money for content creators, as well as e-commerce companies, such as Shopify.
News of the YouTube partnership has SHOP stock rising 2.6% as of Thursday morning. However, the company’s shares are still down 71% since the start of the year.
Investors looking for more recent stock market news today are in luck!
We’ve got all the hottest stock news that traders need to know about for Thursday! A few examples include earnings from Nokia (NYSE:NOK) and AT&T (NYSE:T), as well as what’s hitting cruise stocks today. You can get all of that info from the links below!
More Stock Market News for Thursday
- NOK Stock Soars as Nokia Reports Solid Q2 Earnings
- AT&T (T) Stock Slides on Lowered Full-Year Outlook
- Why Are Cruise Stocks CCL, RCL and NCLH Down Today?
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.