Should You Buy Shopify Stock Right Now?
The silver lining to an otherwise dark-cloud-filled bear market we have been experiencing over the past two months has been the opportunity for investors to buy quality stocks for much lower prices than they could get just weeks before. While some shareholders gave in to the fear and ran for the exits, others saw the significant stock market declines as a chance to buy great companies on the cheap.
One of the most tantalizing prospects was clearly e-commerce platform Shopify (NYSE: SHOP), which has skyrocketed 70% over the past 10 trading sessions. Even after the bear market rout, the stock is up more than 48% year-to-date.
Let's take a look at what drove those remarkable gains, what has investors so bullish on the stock, and whether or not it's still a buy.
Source Fool.com
