The broad market sell-off over the past few months has been brutal for many high-growth industries, including e-commerce. Online shopping got a huge boost during the pandemic, but investors are now worried about growth getting pulled forward and how much customer spending can grow over the next few years. Two North American e-commerce giants, Amazon (NASDAQ: AMZN) and Shopify (NYSE: SHOP), have been hit by this sentiment shift, with their stock prices down 17% and 64%, respectively, over the last six months.
Drawdowns like these are tough to swallow for shareholders but can provide buying opportunities for investors focused on the long term. The question then becomes, which one to purchase? Which is a better buy: Amazon or Shopify stock? Let's find out.
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Source Fool.com