Shopify sinks 6% while Meta holds a 0.9% gain as profit-taking unwinds their Muse agentic checkout deal rally, with merchant economics unchanged. IBUY drops 2% and QQQ falls 1%, confirming Wednesday's softness is partly sector-wide, though Shopify's decline far outpaces both benchmarks. Amazon blocked Muse from its storefront, citing credential scraping and harm to its personalized experience, setting a ceiling on agentic checkout's addressable reach.
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Two counterparties to the same agentic checkout agreement are being priced in opposite directions Wednesday morning as the rally that followed the deal announcement unwinds across online retail. Shopify is handing back its gains while Meta Platforms holds a modest bid. The Amplify Online Retail ETF (NYSEARCA:IBUY) is down 2% in Wednesday morning trading.
The Invesco QQQ Trust (NASDAQ:QQQ) is down 1%, so large-cap technology is softer as well. Shopify (NASDAQ:SHOP) stock is at $140.21, down 5%. Meanwhile, Meta Platforms (NASDAQ:META) stock is at $748.62, up 2% on the same news.
Amazon (NASDAQ:AMZN) stock is at $249.23, down 2%, easing back after word that Amazon has blocked the Muse assistant from its own platform. Shopify and Meta Platforms have partnered so that Muse, the personal artificial intelligence (AI) assistant from Meta Platforms, can complete purchases on users' behalf across Shopify's merchant network. The arrangement enables agentic checkout through Shop Pay, Shopify's accelerated payment option, across the platform's full roster of stores, and Shop Pay itself forms part of Shopify Payments.
Purchases are processed at merchants' existing Shopify Payments rates, which means the deal changes nothing about what Shopify earns on a given transaction and shifts none of the fee stack toward Meta Platforms. 24/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about.
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