CA - Buy Shopify Before The Rebound (Technical Analysis)

2024-06-24 02:30:36 ET

Summary

• Shopify's stock price crashed after a disappointing sales forecast but has since shown signs of recovery.
• SHOP's merchant solutions segment is a key revenue driver, poised to benefit from the growing global eCommerce market.
• Despite concerns about profitability, the Company's consistent sales growth and potential for re-rating to $90 make it a compelling long-term investment.

The stock price of Shopify Inc. ( SHOP ) (SHOP:CA) crashed after the eCommerce company's first quarter earnings as investors panicked over its sales forecast: Shopify's stock price plummeted from $77 to the mid-$50s, but it has since formed a bottom and the stock is showing early signs of a recovery....

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