SHOP is trading 2.9% up now at $110.82 following the announcement of an expanded $5 billion share repurchase authorization and a new global advertising integration with Reddit.
- Investors are optimistic about the buyback program and the Reddit partnership, both of which are viewed as significant drivers for long-term growth and shareholder value.
- Sentiment is further supported by a stabilizing tech sector as the broader market recovers from a recent sharp AI-driven selloff.