What's Behind The Rise In Society Pass Stock Today?

Shares of Society Pass Incorporated (NASDAQ:SOPA) are rising Monday after the e-commerce company announced the launch of a live commerce digital retail advertising platform in Thailand.

• Society Pass shares are climbing with conviction. What’s behind SOPA gains?

What To Know: The company, which is based in Singapore, is launching TMG Social in an effort to capture significant market share of the social commerce market.

The platform, which has a revenue target of $10 million in 2026, will allow brands to create shoppable posts with product tags and links. The platform will also have a “Shop Now” feature on trending TikTok challenges that involve relevant products.

Society Pass is launching the platform through its subsidiary TMG Incorporated, which already focuses on digital marketing and live selling services on influencer and creator networks. TMGX’s creator economy has a network of more than 10,000 users.

According to a Bain and Company study, the market TMGX is targeting is worth $90 billion. Other companies like TikTok, Shopee and Lazada already use live-streamed videos to sell products online, with the most relevant to the United States being TikTok Shop.

“TMGX’s Live Selling services deliver clear and measurable digital marketing results through real-time conversions,” said TMGX’s CEO Kriangkrai Chaimonglol. “We prioritize performance and transparency by tracking gross merchandise value for every sales campaign.”

SOPA Price Action: Society Pass shares were up 28.02%, trading at $2.33 at the time of publication, according to Benzinga Pro.

Read More:

• TikTok Enters $3 Billion Micro-Drama Boom With In-App ‘Minis’— Aims To Keep Viewers Inside Its Platform

Image: Shutterstock