Shopify Stock Price
Shopify Inc (NYSE:SHOP) is in one of the most unique positions in the stock market. On the one hand, it is not a flashy company with some huge consumer device, and neither does it have a particularly high profile compared to many other tech companies. On the other hand, it’s quite possibly one of the most exciting investment opportunities on the market. Between the skyrocketing Shopify stock price, the Amazon partnership and eBay partnership, and otherwise a whole bevy of positive Shopify stock news, there’s good reason to believe that the good times will keep rolling for the Canadian tech company.
Okay, let me take a step back and elaborate on why I’m so high on SHOP stock.
First, the company’s trajectory has been pointed firmly in one direction ever since its IPO in the summer of 2015: Up. The company has seen a 225% gain since hitting the market, and that progress has been steady over the years with few signs of a slowdown. For instance, the company has already been on a tear in 2017, rising about 115% since the year began.
Chart courtesy of StockCharts.com
So what’s propelling the company’s excellence? Besides the usual reasons that companies find themselves in these types of situations (good financials, strong products, investor confidence), there are a few other boons to SHOP stock that bear examination.
Shopify Stock News
The Shopify stock price’s stratospheric rise can be attributed to many positive aspects that the company exhibits, but it’s the potential of SHOP stock that has not only investors interested, but some of the biggest tech companies in the world eyeing partnerships with the company.
One of the first companies that went looking to get in on the Shopify action is Amazon.com, Inc. (NASDAQ: AMZN). Shopify entered into an Amazon partnership back in 2015 and the stock subsequently shot up. After all, Shopify’s whole business is based on offering its customers more opportunities to sell their products. By teaming up with outlets like Amazon, the ability for Shopify to boost a business’s sales grows by leagues. And as the product strengthens, so too does the customer base. Then, of course, a Shopify stock price boost follows.
We’ve basically seen this model repeat itself again and again with SHOP stock.
The next big move the company made was its eBay partnership. eBay Inc (NASDAQ:EBAY) was the next domino to fall, allowing Shopify customer to sell directly through its platform, benefiting the roughly 400,000 Shopify users. (Source: “Shopify partners with eBay so merchants can sell directly on the online marketplace,” Financial Post, July 13, 2017.)
These moves are exactly the type of thing you want to see out of Shopify. The company is taking an already strong product and finding ways to improve not only its current iteration, but also pave the way for a strong path towards growth.
Shopify is making all the right moves so far, and it shows in the Shopify stock price success.
Should You Invest in Shopify?
This may be a bit of no-brainer, but the company is in an outrageously strong position at the moment. The financials all look good, projections are high, the company has partnered with some of the biggest names in tech, and its product is validated time and again as more and more platforms partner with the company.
The point being that if you want to find a bit of a buried treasure, at least as far as more casual investors are concerned, then you can do a whole lot worse than SHOP stock.
At this point in time, it’s looking like the Shopify stock price is headed towards a promising future.