SHOP - How Egregiously Overpriced Is Shopify Stock Really?
2023-08-19 06:30:00 ET
Shopify (NYSE: SHOP) has gone on the offensive again -- but this time, in the wake of the post-pandemic throttling of the e-commerce industry, Shopify's pioneering efforts are in right-sizing its operations.
Earlier this year, the company announced a sizable layoff of employees and sold its logistics business for a hefty loss (following the acquisition of Deliverr in 2022). The latter, in particular, was a bold move to try to reverse what management quickly came to believe was a mistaken investment.
Through it all, Shopify reported a 31% year-over-year increase in revenue in the second quarter of 2023 as it continues its relentless expansion. But some investors are still worried about the company's losses and contend the stock is overpriced. But is it really?
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How Egregiously Overpriced Is Shopify Stock Really?