JPMorgan flags Instinct, Grok Bot and Meta Muse as agentic commerce concerns for Shopify
Shopify fell nearly 15% in two days on agentic shopping worries, and JPMorgan lists Instinct, Grok Bot and Meta Muse as the three key developments, calling Meta the most formidable across the agentic commerce stack.
$SHOP is down almost 15% in the last couple days on Agentic concerns. Per JPM: “We believe there are three key AI agent developments driving incremental concern: 1) Instinct, which remains in closed loop beta and handles features including email, calendar management, & select commerce transactions; 2) SPCX’s Grok Bot beta, which executes real work across apps & websites used by employees, w/bots operating app interfaces directly, retaining memory, and coordinating with one another; & 3) Meta Muse, powered by Muse Spark. Muse can execute daily tasks & select commerce transactions, w/payment infrastructure support from Link by Stripe, w/Shop Pay coming soon. Within emerging consumer AI agents, we view META as the most formidable across the agentic commerce stack given the company’s repository of data across tens of millions of advertisers & 3.5B+ DAPs, and Meta Muse’s leading price-performance value proposition.”
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