SHOP - 1 E-Commerce Stock You Can Buy and Hold for the Next Decade
2023-08-21 07:20:00 ET
With the S&P 500 and the Nasdaq Composite Index both up by double digits in 2023, investors are feeling a sense of renewed optimism, particularly as the economic backdrop is looking surprisingly resilient. This has resulted in some growth stocks performing even better than the broader market.
Take Shopify (NYSE: SHOP) , for example, whose shares are up 48% this year (as of Aug. 17). That gain has likely been catapulted by the acceleration of growth in the most recent quarter, as well as a general risk-on sentiment from investors.
Even though Shopify's stock has gone up nearly four-fold in the past five years, it still looks like a top e-commerce business you should consider buying and holding for the next decade. Let's take a closer look.
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1 E-Commerce Stock You Can Buy and Hold for the Next Decade