Opinion: At its current downtrodden price of about $48 Canadian, Shopify still isn’t a buy for risk-intolerant investors. But it is once again worth watching, David Olive writes.
While it’s too early to say that Canada’s high-tech flagship is on the comeback trail, Shopify Inc. appears set for a turnaround.
Of course, investors who bought Shopify stock at the top of the market are still suffering a 78 per cent drop in the shares’ value since their November peak. By August, Shopify’s stock had lost about $172 billion in value. “What do you do with a ‘growth stock’ that’s no longer growing” is the lament of portfolio managers across North America holding tech stocks during the biggest tech-stock rout since the dot-com bust two decades ago.
And Shopify’s merchant clients managed to post that third-quarter increase amid decades-high inflation, rising interest rates and growing recession fears.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Anthony Gismondi: B.C. wine for the week of Nov. 3, a bottle to cellar and calendar itemsOpinion: The latest B.C. wine country buzz.
Read more »
Hall and Lake: Canada’s long-term health care sector on track for a significant crisisOpinion: Federal, provincial, territorial ministers of health must make caring for our older adults top priority when they meet in Vancouver on Monday to try to negotiate a new health accord.
Read more »