Is Shopify Stock Too Expensive? Why It May Not Matter

Investors love Shopify (SHOP -0.29%) stock. The e-commerce platform's stock has more than doubled over the past year, and as inflation may be easing and e-commerce is growing, there's high investor confidence in the company's long-term prospects.However, at the current price, Shopify stock trades at a rich valuation. Should that stop you from buying it right now?Why Shopify is so popular with investorsShopify operates an e-commerce platform for retailers. It's not a third-party platform like Amazon (AMZN -0 ...