SHOP - 1 Solid Stock to Keep on Your Watch List in 2024
2024-01-14 07:00:00 ET
One of the core tenets of successful investing is to buy good companies at a reasonable price and hold them for the long run. While this strategy may sound simple, it is not easy to execute since it takes work to find these companies, let alone buy them at attractive prices.
Maintaining a watch list of companies you're interested in is therefore an excellent way to keep track of their developments over time and buy them when Mr. Market offers the right opportunity. And one company that should make it onto investors' watch lists in 2024 is Shopify (NYSE: SHOP) .
Like most e-commerce companies, Shopify saw a surge in growth when the pandemic hit. For example, gross merchandise value (GMV) rose 96% to $119.6 billion in 2020, and revenue jumped 86% to $2.9 billion the same year.
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1 Solid Stock to Keep on Your Watch List in 2024