While small and medium-sized businesses (SMBs) have difficulty competing against commerce powerhouses like Amazon and Walmart, companies like Shopify (NYSE: SHOP) have been helping them compete. After the pandemic began in 2020, Shopify saw a huge boom as every business -- big and small -- rushed to establish an online presence.
Now that this wave is over, Shopify's business model has switched. This shake-up caused a lot of investors to bail, and the stock is now down about 70% from its all-time high. However, Shopify's stock is turning around rapidly in 2023 and is already up 45% year to date.
Have investors missed the move on this one? Or is there still room to run? Let's find out.
Source Fool.com