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#News
Artisan Mid Cap Fund stated the following regarding Shopify Inc. (NYSE:SHOP) in its fourth quarter 2023 investor letter:
"Among our top contributors were Chipotle, DexCom and Shopify Inc. (NYSE:SHOP). We got a chance to initiate a position in Shopify during the 2022 growth stock selloff, with the view that this is a leading e-commerce franchise that will continue to benefit from key secular tailwinds. Like many market participants, we were concerned about the company's capital-intensive fulfillment investments in the face of a slowing e-commerce market and welcomed the news that it decided to exit the logistics business in favor of a capital-light partnership model.
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