Is Shopify Stock a Buy Right Now?

By Neil Rozenbaum – Jul 28, 2022 at 8:00AM

NYSE: SHOP

Shopify

Market Cap

$92B

Today's Change

(1.11%) $0.78

Current Price

$71.33

Price as of April 26, 2024, 4:00 p.m. ET

The stock is down 75% year to date and faces a lot of headwinds.

In this video, I will be going over Shopify's (SHOP 1.11%) second-quarter earnings report and will explain why the stock went up after a disappointing quarter.

On Tuesday, the company announced it is letting go of 10% of its workforce.
The company completed the acquisition of Deliverr on July 8. This is going to improve its logistics network over time.
The company reported revenue of $1.3 billion and a net loss of $1.2 billion.
Management sees 2022 as a transition year.

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*Stock prices used were the closing prices of July 26, 2022. The video was published on July 27, 2022.

Neil Rozenbaum has positions in Shopify. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.