Since the announcement that a coronavirus vaccine is on the horizon, some of the year's biggest gainers have taken a shellacking. Even as the broader market has reached new heights over the past several months, Shopify (NYSE:SHOP) stock has stumbled. For investors with an appropriate time horizon, this could be a great time to pick up shares.

On this episode of Fool Live that aired on Nov. 10, "The Wrap" host Jason Hall and Fool.com contributor Danny Vena lay out the case for why Shopify stock could be a great buy right now.

Jason Hall: Danny, I think you picked one of my favorites here.

Danny Vena: I did and I want to start out by saying, if you are an investor with a longtime horizon, if you are still in your prime earning years and you are still adding to your portfolio on a regular basis, every two weeks or every month or however often you get paid, this is a great time to be picking up shares of quality companies on the cheap.

I am a big investor when it comes to these big over-arching trends, this big mega trends. I've said this repeatedly, people probably get tired of hearing it, but e-commerce, streaming video, tele-health, digital payments, cloud computing, these are all areas of growth that are just getting started and will grow for years to come.

One of my favorite picks among all of these is Shopify. Shopify is right at the crossroads of e-commerce. There were a lot of mom-and-pop shops that had not made the move yet. I think that the pandemic just accelerated a trend that was already there. There are going to be a lot of folks out there that are going to be joining the e-commerce revolution over the next several years. Shopify provides them all of the tools that they need to be able to setup their operation online and sell things to people, not only across town but across the world, and it makes it easy.

The fact that Shopify is down 16, or 17, or 18% over the last two days, I think makes it on sale compared to where it was, even just this time last week. But I would also caution and say that if you're buying these stocks, particularly the fact that the tech sector is still going down and by some people's measure still may be overvalued. I would say, ease your way in, buy over time, add to these positions, and again, five, 10 years from now you will be very glad that you did.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.