Is Shopify Stock a Buy Now?
Shopify (NYSE: SHOP) stock fell considerably off its highs in 2021. The company that helps businesses establish an online selling platform thrived at the pandemic's onset in 2020 when non-essential establishments, including many smaller retailers, were temporarily forced to shut their doors to in-person customers. To stay in business, these brick-and-mortar businesses needed to create websites to help maintain customer relationships and facilitate sales.
In 2021, the gradual reversal of that trend created difficult year-over-year comparisons for Shopify. E-commerce as a percentage of overall sales had surged during the initial stages of the pandemic. With business restrictions mostly removed, customers returned to old habits, including more in-person transactions.
The business slowdown for Shopify unsurprisingly resulted in a falling stock price. That has investors asking if the stock is worth considering now. Let's see if we can find an answer.
Source Fool.com
