Shopify Is A Multi-Decade Growth Story & The Stock's Recent Dip Has Created A Buying Opportunity

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Shopify has been one of the best-performing growth names in recent years, with a total return of over 5,000% since its IPO less than ten years ago.

$SHOP reached an all-time high during the pandemic when e-commerce was booming as online shopping was the only option. However, when the economy reopened, consumers returned to physical stores and the stock plunged. Shopify was not the only digital company to face such massive value destruction in such a short period of time. Many stocks suffered selloffs when the market bubble burst at the end of 2021, and a lot of them might never reach their previous highs again, but Shopify is not one of them.

As you can see above, Shopify stock has recovered nicely, and if the current trajectory continues, the stock can reach new all-time highs in the next few years. The outlook is very positive for the company, and Shopify can be one of the few stocks to see new highs again in the medium term. Let’s see why.

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