Topic

SHOP

A collection of 6 issues

Shopify 3Q'25 Update

Despite having the good fortune of owning Shopify after the 2022 drawdown, I had the “misfortune” of selling it at less than one-third of the current stock price in early 2023. Given how Shopify powers increasingly a sizable portion of e-commerce market, I still try to follow them closely. Every

Shopify's Surprise, XPEL 2Q'25

Shopify’s Surprise I started buying Shopify in February 2022 in the $80s. I eventually averaged down which led to my average buy price to be ~$39/share, but the stock kept going down and found bottom in the mid-20s. I eventually sold my position in mid-$40s (sold at

Shopify 4Q'22 Earnings Update

Subscribe "If you look at our 7 years since IPO, we were profitable 5 out of the 7." -Harley Finkelstein (4Q'22 Call) Except that's not true! Shopify was profitable only 2 out of 7 years since IPO. Perhaps he was adding back SBC? You

Shopify 3Q'22 Earnings Update

Disclosure: I own shares of Shopify By and large, things are in the right direction for Shopify. Here are my highlights from the latest earnings. GMV GMV grew 11% YoY, ~15% FXN. 2-yr CAGR and 3-yr CAGR were ~22% and 46% (52% FXN) respectively which lets you peek beyond the

Shopify 2Q'22 Earnings Update

Disclosure: I own shares of Shopify “2022 will be different, more of a transition year in which e-commerce is largely reset to the pre-COVID trend line and is now pressured by persistent high inflation.” Let's dive into this "transition year"! While Shopify still maintains >50%

Shopify: The Anti-Amazon Protagonist

On February 12, 2021, Shopify was trading at ~$1,500/share, an all-time high for the stock. From February 12, 2016 to the day it reached its record high, Shopify generated 7,429.7% for its shareholders (source: KoyFin). I thought to myself, wait, is that ~75x in 5 years?