Why I Feel Confident About This Tech Stock's Rebound Potential
Share prices of e-commerce software company Shopify (NYSE: SHOP) had been gaining momentum of late until fourth-quarter earnings disappointed Wall Street. The stock still sits 75% from its high, and an uncertain economic environment could prove troublesome through the first quarter of 2023.
While some may question whether the stock can ever regain the highs it saw in a euphoric bull market two years ago, I remain confident that Shopify will eventually reach new heights. Here's why I'm so optimistic about Shopify's future.
E-commerce is the future of retail and is already here in some ways. Today, roughly 15% of retail sales in the United States are online, a slow and steady crawl higher since the internet went mainstream approximately two decades ago. But the competitive landscape of e-commerce is very top-heavy. Amazon (NASDAQ: AMZN) and Walmart alone have roughly 44% of America's online market.
Source Fool.com
