Where Will Shopify Stock Be in 5 Years?
It's been a tough past couple of years for (NYSE: SHOP). While the e-commerce platform provider was all the rage in 2020 and 2021 when the pandemic sent the world online to do most of its shopping, that swell of growth was a tough act to follow. Despite being up from last October's lows, Shopify stock is also still trading down 70% from its late-2021 peak.
The stock's recent poor performance is not due to corporate failure. As the legendary investor Benjamin Graham said, "In the short run, the market is a voting machine, but in the long run, it's a weighing machine."
From early 2020 to now, the market has been voting on Shopify shares based on emotions and assumptions -- first bullishly, then bearishly. With the pandemic-prompted volatility finally starting to settle, now look for the market to begin accurately weighing this stock's true value.
Source Fool.com