With the Nasdaq Composite Index in record territory, you might be thinking that most stocks are also near their all-time highs. But this just isn't the case.

Take (NYSE: SHOP). As of May 15, the leading e-commerce platform's shares are currently 65% below their peak, which was established in November 2021. It doesn't help that Wall Street hasn't been pleased with the company's recent financial updates.

Does this discount make Shopify a once-in-a-generation investment opportunity right now?

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Source Fool.com