SHOP - Up 80% Is it Too Late to Buy Shopify?
2023-09-16 05:30:00 ET
Ever wonder how some e-commerce sites operate so seamlessly? Well, it may be thanks to Shopify (NYSE: SHOP) , which helps businesses, big and small, create and customize their websites, sell products, manage orders, and do a whole lot more. Shopify actually holds the biggest share of the U.S. e-commerce software market, a leadership status it's not likely to give up any time soon.
Investors have recognized Shopify's strengths, leading the e-commerce stock to an increase of roughly 80% this year. Now, as great as Shopify's business may sound, you may be feeling a bit wary about investing in the company right now after such a run-up. Is it too late to buy this market giant? Let's take a closer look and find out.
First, a bit of a summary of Shopify's past and present. It all started out more than a decade ago with snowboards. The company's founders wanted to sell them online but couldn't find an e-commerce platform they felt suited their business. So, they created their own -- and shared it with the world. And, as they say, the rest is history.
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Up 80%, Is it Too Late to Buy Shopify?