BIGC Stock Price: BigCommerce Holdings Inc. continues to gain from Instagram partnership

  • NASDAQ:BIGC is gaining ground for the third straight session touching new 52-week highs.
  • The new e-Commerce relationship with Facebook and Instagram is the catalyst for the stock’s movement.

What a week it has been for investors of one of the newest big names in the booming Software as a Service (Saas) industry. BigCommerce did an about-face on Tuesday when it was announced that it had entered an agreement with Facebook (NASDAQ:FB) and Instagram to provide an e-Commerce platform that will allow Instagram accounts to have full-service checkouts built right into the site. The ensuing reaction catapulted BigC’s stock price up nearly 40% on Tuesday and a further 30% on Wednesday – nearly doubling the price of shares over the span of two days. 

The Austin, Texas-based e-Commerce player debuted via an IPO on August 4th of this year and shares were initially available for $24. Patient investors who have waited out the turbulent first few weeks of BigC’s public existence are now being rewarded as shares touched briefly to a new all-time high of $162.50 before settling back down to $141.00 by the end of the trading session on Thursday. It will be interesting to see if the momentum can be carried into the first quarterly earnings call for BigC on September 9th – and how much of an impact the deal with Instagram will provide to its revenues. 

BigC Stock News

While BigC has had a tremendous week so far, the stock could accelerate and take off in September after the earnings call. Investors are looking to BigC in hopes of being the next Shopify (NYSE:SHOP) and indeed, the two e-Commerce giants are direct rivals in the industry. As of June 1st, BigC already had over 60,000 online stores across 120 countries – figures that are highly likely to rise after the deal with Facebook and Instagram.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD holds onto highs despite souring mood

EUR/USD is trading above 1.22 but off the highs. US Durable Goods Orders jumped by 3.4% in January, better than expected, and jobless claims surprised with a fall to 730K. Q4 GDP upgraded to 4.1%, as expected. The dollar is down despite falling stocks and rising US yields.


XAU/USD drops further to $1770 ahead of critical support

Gold dropped further during the American session and bottomed at $1769, the lowest level since last Friday. The metal erased weekly gains and is back below $1780 as US yields keep rising.

Gold news

S&P 500: Day Ahead Outlook Inflation fears linger as doves hit turbulence

US equity markets look for direction on Thursday with mixed signals leading to steady and slightly lower trade. Inflation concerns haven't gone away as the US 10 year hits another year high at nearly 1.5%.

Read more

Crypto bull run on track amid surge in US inflation expectations

The crypto bull run has taken a breather after the gruesome drop in value at the beginning of this week. Bitcoin led the freefall, dropping from $58,000 to $45,000. Generally, all cryptocurrencies retraced and are now holding above key support levels to prepare for another upswing to new yearly highs.

Read more

US Dollar Index remains depressed below 90.00

The greenback manages to bounce off weekly lows near 89.70, although it keeps navigating a sea of red when gauged by the US Dollar Index (DXY).

US Dollar Index News