1 Magnificent Growth Stock That Could Turn $250,000 Into $1 Million by 2030
Global e-commerce sales slowed sharply last year as consumer spending shifted toward necessities in response to high inflation, but digital retail should regain momentum when the economy improves. In fact, Ameco Research says business-to-consumer e-commerce sales will increase by 13.6% annually to reach $15 trillion by 2030.
That rising tide will lift many businesses, but Shopify (NYSE: SHOP) and its shareholders are especially well positioned to benefit. The stock has fallen 75% during the ongoing bear market, bringing its market capitalization down to $53 billion, but that figure could quadruple by 2030. At that pace, $250,000 invested in Shopify today would be worth $1 million by the end of the decade.
Here's what investors should know.
Source Fool.com
