A Bull Market Is Coming: 3 Reasons to Buy Shopify Stock
E-commerce platform builder (NYSE: SHOP) may have been all the bullish rage in 2020 and 2021, when the COVID-19 pandemic was forcing the world to do most of its shopping online. Once the contagion started easing in 2022, however, Shopify shares fell all the way back to Earth in a hurry. After all, consumers were heading outdoors again.
The funny thing is, this stock's wild past two-and-a-half years may have been the best thing for it. Such volatility not only shakes out all the bullish and bearish speculators that often crowd around a young stock, but it also gives the company in question time to prove its staying power. Shopify passed the test. It's even bigger now (as measured by revenue) than it was at the height of the pandemic.
That's what makes it a well-suited name to own at the onset of the next bull market, which may already be underway. Three reasons stand out among all of the bullish arguments.
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 36.14% for Shopify Inc compared to the current price of 55.09 €.
