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Wall Street turns bullish now that the stock has rallied over 60% since October.
In this video, I will talk about why Shopify (SHOP 2.20%) soared on Monday after some new analyst upgrades and explain why investors shouldn't necessarily take this as a buy signal.
*Stock prices used were from the trading day of Jan. 20, 2023. The video was published on Jan. 23, 2023.
Neil Rozenbaum has no positions in the stock mentioned. 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.
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*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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