Power Growth says buy Shopify Power Growth says buy Shopify
2020-06-19 21:03 ET - In the News
Power Growth Investor, in the June, 2020, issue, says buy Shopify Inc., recently $1,069.67. Power Growth previously said buy three times from February, 2017, to November, 2019, at prices ranging from $66.17 to $426.94. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $26,741. (For portfolio purposes, this time we will make an investment of $1,070 rather than $1,000, in order to ensure the purchase of a full share.) Shopify provides on-line and brick-and-mortar retailers with Internet-based software to design, set up and manage stores. Power Growth says the stock's performance over the last three years has been nothing short of "spectacular." In fact, with a market cap of $123.6-billion, Shopify recently became the most valuable company on the Toronto Stock Exchange, surpassing long-time leader Royal Bank at $120.8-billion. Sometimes, a spectacular rise goes before a spectacular fall, as happened with Nortel Networks, Valeant Pharmaceuticals and others. Power Growth is not worried about that in Shopify's case. Shopify is continually expanding its product lineup while benefiting from the rising popularity of e-commerce. Power Growth concludes, "Buy Shopify for even more success."
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