Shopify (SHOP) stock surged 5.05% in pre-market trading on Monday, as investors reacted positively to news of the company's upcoming inclusion in the prestigious Nasdaq 100 index. This significant move highlights Shopify's growing importance in the tech sector and is likely to attract more attention from institutional investors.

The e-commerce giant's addition to the Nasdaq 100 and the Nasdaq-100 Equal Weighted Index is set to take effect later this month. This inclusion comes on the heels of Shopify's strong first-quarter earnings report, which has bolstered investor confidence in the company's growth trajectory and market position.

Joining the Nasdaq 100 is a major milestone for Shopify, as it places the company among the largest non-financial companies listed on the Nasdaq stock exchange. This move is expected to increase the stock's visibility and potentially lead to increased trading volume and liquidity. As index funds and ETFs tracking the Nasdaq 100 adjust their holdings to include Shopify, the stock may see continued upward pressure in the coming weeks.