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Is Shopify a Buy Now?

TheMotleyFool

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Is Shopify a Buy Now?: https://g.foolcdn.com/editorial/images/700402/computers-office-getty-6217.jpg

Investors have been avoiding e-commerce stocks lately due to factors such as shifting consumer spending and higher inflation. Shopify (NYSE: SHOP), a leading e-commerce solutions provider, has seen its share price plunge by more than 80% from its peak of $176.

The stock price correction will attract bargain hunters, but is Shopify stock a buy now? Let's explore the idea.

Image source: Getty Images

Source Fool.com

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