After an impressive run from the bear market lows in late 2022, (NYSE: SHOP) seems to have hit a speed bump. Following the release of its earnings for the fourth quarter of 2023, investors seemed to have turned on the stock, taking it down by over 13% in the next trading session.

However, for those still bullish, the decline may be a hiccup rather than a sign of a longer-term downtrend. As investors take a closer look at its competitive advantages and its history, they may perceive the recent price action as a buying opportunity rather than a reason to turn on Shopify stock.

Shopify has emerged as one of the leading providers of e-commerce software. Its site allows for an easy setup for entrepreneurs with no coding knowledge, and the ability to customize a website and conduct speedy transactions has also made it a popular choice.

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Source Fool.com