3 Stocks to Add to Your Portfolio in a Market Pullback
With the S 500 up more than 18% this year, it's getting very close to surpassing its previous high, which is about 5% above current levels. When that happens, we'll be back in a bull market. On average, valuations are just getting back to normal. The S 500's price-to-earnings ratio stands at 23 right now, which is a typical pre-pandemic valuation.
Still, some stocks do look a bit overvalued at this point even though the underlying companies have some wonderful businesses. Three in that category right now are (NYSE: SHOP), MercadoLibre (NASDAQ: MELI), and Nu Holdings (NYSE: NU). In the event of a market pullback, you'll want to load up on these stocks.
For any e-commerce company whose name isn't Amazon, getting online can be a challenge. Shopify offers tools and packages to make it a cinch, with turnkey websites and full payment options. It's no wonder it counts millions of clients and keeps growing.
Source Fool.com
Shopify Inc Stock
Our community is currently high on Shopify Inc with 5 Buy predictions and 0 Sell predictions.
With a target price of 75 € there is a positive potential of 30.68% for Shopify Inc compared to the current price of 57.39 €.
