After an astonishing flight into the stratosphere, Shopify (SHOP) shares may finally have run out of oxygen. The Ottawa-based e-commerce software company has been among 2020's best performing stocks, with a year-to-date gain of more than 140% through Wednesday's close. But with the stock trading at breathtaking valuation metrics—about 50 times current year consensus revenue estimates and over 1,700 times projected profits—analysts are getting a little uncomfortable with the stock's
This may worth something:
Kevin O'Leary says investors should own both Amazon, Shopify stocks
Investors should own the stocks of both Amazon and Shopify , Kevin O'Leary said Wednesday, citing his experience working with the platforms through his "Shark Tank" companies.
"This is the new emerging market for small business in America, and you need to own it," O'Leary said of Shopify on CNBC's "Halftime Report." "I love Amazon, but I love, love, love Shopify,."
Bloomberg - Are you a robot?
Shopify, Canadian government launch initiative to help small businesses grow online amid COVID-19
Shopify has partnered with the federal government to launch a new initiative called Go Digital Canada, aimed to bring more Canadian small businesses online and support them in the new era of digital transformation brought about by the COVID-19 pandemic.
"We wanted to provide support to help bring these businesses online, and help future proof that backbone of the economy."
The initiative is set to be announced Wednesday at Startupfest's virtual fireside chat between Harley Finkelstein, COO of Shopify, and Mary Ng, Canada's minister of small business, export promotion and international trade. Go Digital Canada will serve as what Shopify called a "central resource hub," where entrepreneurs can receive support on growing their business online through tools offered by Shopify, as well as partners and experts.
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Zacks Market Edge Highlights: Tesla, Amazon, Roku and Shopify
This week, Tracey is joined by Zacks Stock Strategist, and the Editor of the Counterstrike portfolio, Jeremy Mullin, to discuss the crazy stock market, especially the most highly traded momentum stocks.
A lot of new traders have flooded into the market in recent months. Robinhood, the popular trading app, now has over 13 million accounts.
Jeremy has been a professional trader for over a decade. He's had his big wins, and has made his own mistakes.
Do You Ever Wonder How Big Your Fortune Would Be if Shopify (TSX:SHOP) Keeps Growing at the Same
Since its IPO in May 2015, Shopify stock has returned a remarkable $4,140% — a feat very few growth stocks have ever managed. That simply means an investment of just $25,000 five years ago would have made you a millionaire today.
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Just for the sake of calculation, if that really happens, and an investor continues to hold it for the next five years, the fortune would be as big as $36 million.
Shopify Now Allows Cryptocurrency Payments: Will It Help Widen Its Market? | CryptoGlobe
The use of cryptocurrency is becoming more popular as more people and industries are starting to embrace it. It took quite a while for cryptocurrencies like Bitcoin, Ethereum, Litecoin, DogeCoin, and many other more to get where it is today. After all, the father of cryptocurrencies, Bitcoin, has been around since 2008. It was really only a few years ago when it made the spotlight.
Currently, people are buying or investing in Bitcoin and other cryptocurrencies for different reasons. Mainly, this is because they want to have digital assets. For some, they want to make online transactions easier. While many would also gamble with these cryptos. You can check clovr.com to know which online casinos accept Bitcoin and other cryptos if you’re interested in it.
More Bad News For Shopify | Seeking Alpha
This represents further competition for Shopify and may make many investors realize the company is not as unique as they thought.
On July 14, BigCommerce ( BIGC ) applied for a $100 million IPO. Out of all the players in the eCommerce space, BigCommerce is perhaps the most similar to Shopify (NYSE: SHOP ) in terms of price, software, and user-case. While growth is not as impressive as Shopify, the company is more profitable and the IPO is very bad news for Shopify, which is already operating in a crowded market.
Happening on Twitter
Two analysts fretted that there's not much upside left in Shopify stock following this year's enormous gains. https://t.co/kPwqob9anN barronsonline (from New York, NY) Thu Jul 16 21:19:46 +0000 2020
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