Shopify (NYSE: SHOP) rallied hard during the pandemic as people forced out of work by stay-at-home rules raced to the internet to launch online businesses. Revenue more than tripled during the three-year period between 2019 and 2022, growing to $5.6 billion.
Yet after a period of profitability, the online e-commerce platform provider has returned to its money-losing ways, generating a net loss of almost $3.5 billion last year, and Shopify is forecasting more losses to come.
Image source: Getty Images.
Source Fool.com