SHOP - Up 50% in 2023 Is Shopify a Buy?
2023-10-11 10:15:00 ET
While many growth stocks have fallen hard in the recent market pullback, Shopify (NYSE: SHOP) is not one of them. The e-commerce platform is up about 50% so far in 2023, roughly doubling the return of the Nasdaq Composite to date.
That rally could be just the start, assuming Wall Street is correct about the company's long growth runway and its ability to boost margins over time. It's also possible that shareholders will see lackluster returns from here if it doesn't live up to those high expectations.
Which reading is closer to the truth for this growth stock? Let's dive right in.
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Up 50% in 2023, Is Shopify a Buy?