Buy or bye for the e-commerce stocks?
$Shopify(SHOP)$ fell in sympathy with the broader tech sector last week as investors took their bets off the table. However, I believe that the selloff is overdone in the case of Shopify, which I like as I believe that the online buying habits built over the COVID pandemic are here to stay over time, and this will benefit Shopify that has been enabling e-commerce platforms for thousands of sellers to start, grow, manage and scale their online business and operations. In fact, Shopify's earnings results for its previous quarter had exceeded analysts' predictions, and I hope that the coming earnings announcement on 8 August will likewise be encouraging. More importantly, hopefully the management will guide improving business outlook and help the e-commerce enabler to regain its past glory. Is Bank of America's recent upgrade of the stock to Buy a precursor for some good news?
Across the Pacific Ocean, many eyes will be on BABA and SE when they publish their latest quarterly earnings results on 8 August and 13 August respectively. Stock prices of $Sea Ltd(SE)$ , $PDD Holdings Inc(PDD)$ , $Alibaba(BABA)$ Bearish and $JD.com(JD)$ Bearish have been weighed under a sluggish Asian economy, as consumers tighten their belts. The e-commerce sector is in need of strong stimulus for the economy as it navigates challenging macroeconomic headwinds. Until there are emerging signs of return of strong demands, I would refrain from adding my exposure to the sector.
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