2024-01-21 06:23:00 ET
2023 was an amazing year for growth stocks. The tech-heavy Nasdaq-100 index has gained 45% over the past year, more than double the S&P 500 . One of the questions on investors' minds is whether 2024 will be a repeat. Global-e Online (NASDAQ: GLBE) is a typical tech-focused growth stock that gained 92% in 2023. Is it too late to buy?
You may not have heard of Global-e because it's a business-to-business platform providing cross-border solutions for e-commerce retailers. You might have used its platform without realizing it if you've ordered products from another country. It integrates into a client's website and offers services like localized checkout, currency options, instant customs calculations, and shipping options.
Global-e has various packages for different-sized companies, but it's known for working with A-list clients, like Walt Disney and LVMH . Some recent customers include Tory Burch and Bang & Olufsen, and LVMH consistently adds more of its owned brands to the platform, such as Repossi, Emilio Pucci, and Patou, in the 2023 third quarter.
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Is It Too Late to Buy Global-e Stock?