SHOP - This Stock Has Outperfomed Amazon in 7 of the Past 8 Years and the Trend Could Continue in 2024
2024-01-15 07:15:00 ET
Amazon (NASDAQ: AMZN) is the top e-commerce company in the world. Its Prime Day and Black Friday sales often serve as indicators for how well the global economy is doing. Moreover, it's been a fantastic growth stock. A $20,000 investment in it 20 years ago would be worth more than $1.1 million today.
But as well as it has performed over the long haul, it has slowed down in recent years. There's another stock, also involved in e-commerce and tech, that has been an even better buy of late, and that's Shopify (NYSE: SHOP) .
Shopify went public in 2015 and has been red-hot ever since. Aside from 2022, when the markets as a whole struggled, Shopify has delivered consistently positive returns since 2016 (its first full year on the market). And it has also done better than Amazon in almost every one of those years.
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This Stock Has Outperfomed Amazon in 7 of the Past 8 Years, and the Trend Could Continue in 2024