I've Covered Shopify for 5 Years. Here's Whether the Stock Is Overvalued Right Now.
Shopify remains a great stock to hold, but should you add more shares at these levels?
Overview
In my five years covering Shopify (NASDAQ: SHOP), the stock experienced both boom and bust cycles, and I even became an investor as the 2022 bear market and a major misstep (which it later corrected) led to a drop of up to 87%.
The software-as-a-service (SaaS) stock has since recovered most of that loss, and as of now, I'm holding onto considerable stock gains. Nonetheless, while I have no intention of selling any shares, I will not add additional shares under the current conditions. Here's why.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.