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In just the past month, shares of Shopify (NYSE: SHOP) have surged more than 50%, making it one of the hottest investments to own lately. The company has been trimming its costs over the years, and with consumer spending still looking strong and resilient, the e-commerce stock has been benefiting from multiple positive developments.
Is it only a matter of time before the shares get back to $100?
Shopify is a top e-commerce stock to own and its performance relies heavily on the state of the economy. And right now, economic conditions still look strong.