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Shopify: Buy, Sell, or Hold?
SHOPShopify(SHOP) The Motley Fool·2024-08-02 21:00

The e-commerce services provider still has a bright future.Shopify's (SHOP -6.43%) shares hit a record high of 169.06onNov.19,2021.Theecommerceplatformimpressedthebullswithitsacceleratinggrowth,whichwasdrivenprimarilybybusinessessellingmoreproductsonlineduringthepandemic.Thebuyingfrenzyingrowthandmemestocksamplifiedthosegains.Tradingatabout169.06 on Nov. 19, 2021. The e-commerce platform impressed the bulls with its accelerating growth, which was driven primarily by businesses selling more products online during the pandemic. The buying frenzy in growth and meme stocks amplified those gains.Trading at about 60 today, Shopify's stock has dropped a long way from those highs. The business has lost its luster over the past three years ...