Like other e-commerce businesses, (NYSE: SHOP) benefited from a huge surge in online shopping that occurred during the worst of the coronavirus pandemic. Sales were skyrocketing, and the company was posting positive operating profits for several quarters.
However, with the uncertain economic environment and inflation on everyone's minds now, Shopify's growth has moderated and its shares have retreated sharply from their 2021 peak. Yet, the stock has still produced a remarkable 300% return over the past five years. This means a $1,000 investment in Shopify back then would be worth more than $4,000 today.
Past returns are wonderful, but what should investors do about this stock now? Let's take a closer look at this top e-commerce business.
Source Fool.com