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Another tech giant that is rejuvenating these days is Shopify. It’s a great Canadian success story, but a victim of Covid, when shares peaked at levels 250% higher than today’s $86 shares. SHOP has rallied 83% so far this year and popped 5% to begin this week. It’s been in the penalty box for so long that the street is letting it play again. One popular measure that the company is undergoing is phasing out its fulfillment services to raise profits. E-commerce isn’t dead, as some analysts proclaimed, but taking a breather after years of lockdowns. Gross merchandise volume climbed 15% over the past year, monthly recurring revenue increased 10%, and overall revenue rose 25% to $1.5 billion. Read 3 Big Tech Stocks Making a Comeback for our full analysis.
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