I love how the narrative about stocks can do a 180 on a dime. Six months ago this stock was unstoppable. Ecommerce is never going away! This company is revolutionary! It's going to the moon!! Now, the exact opposite. It's a sinking ship. Too much competition! CEO is up to no good! It's going bankrupt tomorrow !
The truth is that Shopify is an amazing company. Sure it has competition. Just a few years ago IT WAS THE COMPETITION! I work in ecomm. Replatforming from one ecomm platform to another is a huge undertaking, and I can't tell you how many of my clients have switched to Shopify in recent years. From the smallest brands to the biggest. Shopify has revolutionized this space and built a platform that is so much more nimble and easy to work with than anything else in the market. It is not going anywhere.
Now despite inflation and the threat of a recession, everyone keeps saying - the consumers are strong! Sure, maybe they are switching from goods to services a bit. So in comparison to the period of covid we'll see a pullback. But Shopify will return to growth and show tremendous top and bottom line.
So if you are a "trader" (read speculator), continue to short, or buy and sell on each turn of the market. But if you're an investor, this is an amazing price to buy in. I won't tell you it's going back to $1,700 anytime soon, but once all the fear goes away, you will likely see 2-3X on your investment.$Shopify(SHOP)$