3 Reasons to Buy Shopify Stock
Shopify (NYSE: SHOP) has been crushed this year, falling more than 77% in 2022 alone. A lot of this has been due to an increasing belief that the U.S. economy could fall into a recession. Shopify helps small and medium-sized businesses (SMBs) build and grow their commerce operations by providing a suite of products that allows them to compete with larger companies.
The company sells subscriptions to products, but Shopify also makes money from payment processing and currency conversion fees, meaning it gets paid in part by activity on the platform. With fears of a recession and consumer budgets tightening -- especially on discretionary goods like those sold by e-commerce merchants -- investors believe that Shopify could get hurt by less activity over the coming months.
While this might be true, Shopify still has a lot of opportunity over the long term. This dominant e-commerce company might struggle in the short term, but here are three reasons it could thrive for many years ahead.
Source Fool.com
