Is Now the Right Time to Purchase Shopify Stock at a 53% Discount?
Wednesday, 3 April 2024, 11:25
Buy these businesses and never sell
It's not actually possible to buy and hold a stock forever, but it's a good framework to have in mind when making an investment. As legendary investor Warren Buffett proved, buying businesses that can grow for decades is a great way to achieve both financial and emotional security.
- If you're looking for stocks you can feel comfortable owning for a lifetime, look no further.
- Shopify operates an e-commerce platform that allows anyone to start selling online easily within minutes.
- Today, Shopify has more than 1 million storefronts and, by some estimates, controls nearly 30% of the U.S. e-commerce platform market.
Don't expect the discount to last for long
Great growth stocks don't go on sale often. When they do, be prepared to strike. This looks like such a moment for Shopify stock.
- A surge in demand during the pandemic saw many of these companies post their highest growth rates in years.
- While Shopify shares have rebounded from their recent lows, paying the current valuation of 14 times sales is still a bargain for a $100 billion business that could foreseeably become a $1 trillion business a decade or two down the road.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.