4 Reasons to Buy Shopify Stock Like There's No Tomorrow
The market threw the proverbial baby out with the bathwater. That spells opportunity for you.
Are you looking for a new growth stock? Put Shopify (NYSE: SHOP) on your watchlist if not in your portfolio. It's a far more promising prospect than plenty of other tickers at this time, especially while it's down as much as it is from its February high.
Shopify helps companies establish and manage an e-commerce presence. Online shopping carts, payment processing, marketing, inventory management, and more are in its wheelhouse. Although the company itself no longer reports how many online stores rely on its technological solutions, estimates put the figure in the ballpark of 5 million.
The company does still disclose the amount of online sales its tech facilitates, though. Gross merchandise volume (GMV) reached $94.5 billion, capping off a full-year tally of $292.3 billion, up 24% from the prior year's GMV.
