These products include more delivery options, Shopify email, Shopify Balance, and Shop Pay Installments, among others. For example, investors believe that the product announced in the (re)unite event will help boost sales and grow its market share. In all fairness, the upward trend has also been helped by the company's initiatives and bullish analyst forecasts. In the same period, the S&P 500 and Nasdaq have gained by ~25% and ~37% respectively. Also, the firm's gross merchant volume (GMV) accelerated in April as more people shopped online.Īs a result, SHOP's stock has risen by 133% since I published the article. In May, the company announced that new stores created between March 13 and April 24 rose by 62%. Third, I wrote that many local businesses would start embracing e-commerce now that most of their services were deemed non-essential. I expected these people to turn to Shopify, which has built a world-class e-commerce platform. Second, I theorized that the mass layoffs would lead to a rise in entrepreneurship in the United States and around the world. This argument was given a boost by Amazon ( AMZN), which started to prioritize essential orders.
First, I argued that the stay-at-home orders would lead to a surge in online orders. I cited three main catalysts for the company. I made a case for investing in the firm in my March article - spotting opportunities amidst the chaos. It is a company whose shares I buy and sell regularly. Regular readers know of my "love-hate" relationship with Shopify. In the same period, the S&P 500 and Nasdaq 100 have had a total return of -3.19% and 16% respectively. Shopify ( NYSE: SHOP) stock is up by more than 120% this year, and the shares are hitting an all-time high almost every day.
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