At one point, (NYSE: SHOP) was one of the best stocks to own, as it skyrocketed almost 6,500% from May 2015 to its all-time high in November 2021. But as the Federal Reserve rapidly hiked interest rates, and investors soured on growth tech stocks, shares have cratered. As of this writing, they are down 61% from their peak. 

You might be viewing this as a potential buying opportunity. Even so, it's a good idea to gain a better understanding about Shopify. Here are three things that the smartest investors know about this top e-commerce company. 

At a high level, Shopify is a tech platform. It provides tools and services that help merchants primarily sell things online. It also provides the tech infrastructure to let merchants accept in-store payments. The company says that it supports millions of businesses in more than 175 countries. But as of the end of 2022, 55% of its merchants were based in North America. 

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Source Fool.com