Shopify’s Upmarket Surge: AI Partnerships, Record Sales, and a Path to $200+
It's time to $Shopify(SHOP)$ 'til ya drop.
Recent partnerships with OpenAI + Lovable's AI shows they're leaning into innovation.
New CTO just started in late '24, and he's been busyyy (in the best way).
SHOP started as the home for small merchants, but just onboarded $General Motors(GM)$ $Estee Lauder(EL)$ for their ecommerce arms.
Moving upmarket...bigger merchants, bigger GMV.
Not to mention they *crushed* Q3 earnings...$2.84B rev, $92B GMV, $500M+ in buybacks.
Borderline absurd numbers.
Next, seasonality...most notably -> Black Friday + Cyber Monday.
During the holidays last year ('24), merchants broke the previous record for sales, totaling $11.5B during BFCM.
This is a big time of year for $SHOP.
Plan?...first adds at $156 on the trendline, with adds at $142 if it drops short-term, and final adds around $127 if more downside to strong support.
...risk is weekly close under $125.
Targeting $200, then $225+ longer term. SHOP now $156.
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