SHOP - Shopify Stock: Buy the Dip?
2023-08-18 06:06:00 ET
This month's pullback in market indexes, particularly in tech, has weighed heavily on the stock prices of some of tech's best performers this year. One of those stocks is e-commerce platform provider Shopify (NYSE: SHOP) . Though shares are up about 55% year to date, they're notably down about 20% this month.
With the stock pulling back so substantially, some investors may be wondering if now is a good time to buy it. After all, the company reported better-than-expected second-quarter results earlier this month, featuring accelerating top-line growth.
To help investors consider whether they should buy shares today, here's a look at Shopify's second-quarter update and the stock's valuation.
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Shopify Stock: Buy the Dip?