If You Invested $1,000 in Shopify in 2016, This Is How Much You Would Have Today
Shopify (NYSE: SHOP) stock may be well-known for having benefitted from the coronavirus pandemic, as more people turned to online shopping and selling, but the company was thriving even before the COVID-19 outbreak. Indeed, investors who bought $1,000 worth of Shopify stock on Jan. 1, 2016 would have a whopping $2.24 million today.
This incredible return came as the company benefited from widespread growth in the public's e-commerce spending. Let's take a closer look at the business to see what's causing its enviable performance and determine if newer Shopify investors can expect similarly extraordinary returns.
Source Fool.com
