BIGC - Here's Why Shares of BigCommerce Are Skyrocketing Today
Shares of BigCommerce Holdings, Inc. (NASDAQ: BIGC), an e-commerce platform company, spiked 37% today after the company announced that its e-commerce checkout service would be available through Facebook's Instagram app.
As of 3:18 p.m. EDT, BigCommerce's stock was up 25.3%.
Investors pushed BigCommerce's stock up after the company announced that its platform will allow eligible merchants on Instagram to sell their products directly through the social media app. The ability for consumers to check out on Instagram, instead of leaving the app and going to a merchant's website to finalize an e-commerce sale, could help merchants more easily sell their products through the app.