If the Market is Changing Its Mind About Shopify, Should You Buy?
E-commerce platform Shopify (NYSE: SHOP) has seen its shares jump some 10% this past month even as the broader market has remained about flat -- and there does not seem to be any obvious catalyst. So curious investors may wonder why. Of course, stocks can rise or fall for a variety of reasons, so let's take a closer look at the company to see what might be behind the recent stock move.
Admittedly, investors can only guess what has been happening to the internet and direct marketing retail stock in recent weeks. Shopify's stock price increase comes at a time when neither it nor analysts have released any news on the company.
Still, investors know that Shopify is in the midst of a recovery from 2022. During that year, people began turning away from online shopping as previously locked-down customers returned to more of their offline shopping options. A sluggish economy also slowed the growth rate.
Source Fool.com
