Shopify Inc. is a multinational e-commerce company based in Canada. Its proprietary platform is used by online retailers to build a web-based store and point-of-sale system. The company also offers consulting services and provides tools to its customers to maximize their online sales. The company has been a part of the Canadian tech industry for over a decade.
Shopify stock isn’t a cheap investment. Its share price was over $1,300 per share in early 2022. The company decided to split its stock because it felt that the price was too high for the average investor. Therefore, the company split its stock into two ten-percent-share units.
Despite the recent struggles, Shopify stock is likely to rebound in the coming quarters. As long as the company is able to establish a solid foundation for growth, it can expect to see solid earnings in the years to come. In the meantime, investors should hold off on making large purchases and wait for a resurgence in the company.
You can buy Shopify stock directly or through an exchange-traded fund (ETF). An ETF is a basket of stocks that has been grouped based on sector or geographic strategies. This way, you spread the risk over several companies and reduce the risk of your account balance being wiped out in the case of one company’s downfall. Some ETFs that offer a broad exposure to the e-commerce sector include Franklin Disruptive Commerce ETF and Simplify Volt Fintech Disruption ETF.