The coronavirus pandemic brought about a time of downfall for so many sectors and companies but not for all. One sector heavily benefitted from this pandemic and grew tremendously. The e-commerce industry made the most out of this pandemic and there also emerged some companies which became all the more famous during this time. Shopify is no exception this company is a winner in the sector of e-commerce and of the coronavirus pandemic as a whole. Shopify’s foundation was laid in the year 2006 and is headquartered in Ottawa, Ontario, Canada. It is a progressive company in its way and has ever since grown to become the second-largest retail giant in e-commerce in the United States.
Shopify Inc. (NYSE: SHOP)
- 52 Week Range: $305.30 – $1,499.75
- Average Volume: 1,495,438
- Market Capital: $140.36B
- Forward Dividend and Yield: N/A (N/A)
Shopify’s Popularity and Success
When it comes to the stock market, investors always want to invest in profit-bearing stocks. Amazon has been and is the leader of the e-commerce industry, i.e., the only e-commerce giant at present. The people, however, always hunt for alternatives and Shopify came out to be a wonderful alternative for that matter. The company progressed so well during the past year and we can see this from how the price of the stock changed within a year.
Moreover, Shopify is a platform for the merchants and for the growth of their businesses and this is what adds as another plus point for the firm. At present, even though Shopify is not as big as Amazon but it has managed to give tough competition to the company and this is a huge success. This is what attracts the investors and makes this stock even more perspective for investing.
Why Invest in Shopify Stock?
Shopify is highly profitable at present and can bring out some great profits upon investment. Therefore, the investors who can manage to spare the amount of money required to purchase the stock should go for investment here because of the reliability in this current time. The e-commerce industry is in no way going to go down in the future and will keep on prospering. The progress of the industry will take the company also ahead and so, the future of e-commerce industries, which have solidified their position, is quite bright.
The years 2019 and 2020 have been the years of intense growth for the company and the way it has established itself, also becoming a major rival and competitor of the large firms like Amazon and eBay. A little slowing down however can be expected to post the pandemic but the growth will continue as such. Shopify is a stock the investors should add to their list. The price is high but it will bring in profits and not let the money go down.
