After a surge in 2023 that lasted through July, the S 500 has retreated from its year-to-date highs. Bullish investor enthusiasm coming into the new year has deflated as interest rates keep rising and many retailers' updates haven't been pretty.

The good news is that many stocks have kept most of their gains, and the pullback may offer investors better entry points. (NYSE: SHOP) stock was up more than 100% year to date in July, but that gain has shrunk to about 70%.

Even at the current price, shares trade at nearly 12 times trailing-12-month sales -- a premium valuation. Should you be willing to pay that premium, or is this stock too expensive?

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Source Fool.com