NEW YORK (TheStreet) -- Shares of Facebook Inc (FB) are down 0.26% to $81.95 in early market trading Thursday, as the social media giant teams up with Shopify (SHOP) to expand a beta test of its new "buy" button, according to TechCrunch.
Facebook and e-commerce company Shopify are working on the "buy" button feature, which will let consumers buy goods from more retailers without leaving the social media site, TechCrunch reports.
The "buy" button could help Facebook compete with Pinterest, which just launched its own feature that allows for in-line transactions, TechCrunch noted.
Google (GOOGL) is also planning to offer something similar within its advertisements.
Robert W. Baird analyst Colin Sebastian said on CNBC this morning that the "buy" button gives Facebook an incremental revenue stream.
Menlo Park, Calif.-based Facebook is a social networking website company, with its applications enabling customers to stay connected with their friends and family.
Insight from TheStreet's Research Team:
Facebook is a core holding of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. In a recent post, this is what Jim Cramer, Portfolio Manager & Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock:
This morning, Canaccord Genuity published a note on Facebook (FB:Nasdaq) detailing the stock's attractive valuation and future potential. While we don't typically rehash research notes, we found Canaccord's perspective especially interesting and in line with our views. More specifically, the note took a deep dive into the various revenue drivers supporting Facebook moving forward.