(NYSE: SHOP) stock is not cheap. Shares have rallied in the past year and are sitting near a post-pandemic high. There are certainly less expensive options in the e-commerce space as a result, including investments like eBay (NASDAQ: EBAY) and Amazon.

Don't let its elevated valuation scare you away from this stellar business, though. There's plenty of room for Shopify to be a positive force in most investors' portfolios. Here are the top reasons why.

It hasn't been easy for many e-commerce specialists to boost sales in the post-pandemic period as consumers shifted demand away from previously popular merchandise categories. Etsy (NASDAQ: ETSY) and eBay reported flat or declining sale volumes for 2023, for example. Costco only recently announced rebounding growth in its digital segment as well.

Continue reading

Source Fool.com