I've used a few tools and indicators to predict Shopify share price over the next couple weeks
Not investment advice
I believe SHOP is massively undervalued, with some exciting projects coming soon. We saw an ATH @ around $172 in Nov 2021, and since then the price has dropped around by over 4x less, to about $40. This is around $15 above the ATL.
However, £SHOP is also vulnerable to external factors, and as we saw in the news, Russia has apparently attacked Poland, which could be massive news for the market - a lot of investors will get spooked and sell shares. Shopify relies on online purchases, so there is both an advantage and a disadvantage for them.
Another factor I've spotted which I believe is great for the long term potential of $SHOP is the growth in ecommerce sales and the number of people starting ecommerce businesses. The recent downward economy has forced a lot of businesses to go online, growing the customer base and number of businesses that operate online. As we already know, ecommerce is booming already, but Statista predicts that global ecommerce sales will rise massively to over $8.1TRILLION! In 2021, this figure was just over $5.1trillion.
Not investment advice
I believe SHOP is massively undervalued, with some exciting projects coming soon. We saw an ATH @ around $172 in Nov 2021, and since then the price has dropped around by over 4x less, to about $40. This is around $15 above the ATL.
However, £SHOP is also vulnerable to external factors, and as we saw in the news, Russia has apparently attacked Poland, which could be massive news for the market - a lot of investors will get spooked and sell shares. Shopify relies on online purchases, so there is both an advantage and a disadvantage for them.
Another factor I've spotted which I believe is great for the long term potential of $SHOP is the growth in ecommerce sales and the number of people starting ecommerce businesses. The recent downward economy has forced a lot of businesses to go online, growing the customer base and number of businesses that operate online. As we already know, ecommerce is booming already, but Statista predicts that global ecommerce sales will rise massively to over $8.1TRILLION! In 2021, this figure was just over $5.1trillion.
Comment:
UPDATE: We got 'em!!! Currently sitting pretty @ just under $54 !