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Why Is Shopify So Expensive?

TheMotleyFool

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E-commerce platform Shopify (NYSE: SHOP) has been a tremendous performer during the pandemic, and its stock price has more than doubled since early this year. But at nearly $1,000 a share, is this young company really worth so much?

Headquartered in Ottawa, Canada, Shopify is an e-commerce platform that supports more than 1 million businesses in 175 countries. Offering online storefronts and fulfillment services that make selling products online as painless as possible, Shopify hosts small and large brands alike, from Allbirds to Heinz and Staples Canada.

Image source: Getty Images.

Source Fool.com

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