Shopify has all the ingredients to be a huge company, but can it ever become Amazon?
Amazon has been one of the best-performing stocks (if not the best) over the last two decades. Owning the stock since 1997 would have turned every $10,000 into more than $20 million by 2024.
Unsurprisingly, investors always look for the next Amazon, setting it as the benchmark for promising growth companies. Shopify, an up-and-coming e-commerce software company, is one of those promising candidates.
But is Shopify the next Amazon? Let’s explore this further.
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Shopify has been a remarkable growth stock
Like Amazon, Shopify has been an enormous wealth generator for investors. Since going public in 2015, the stock has increased by roughly 2,000%, as of this writing. To put it into perspective, every $10,000 invested at the start would have grown to more than $200,0000.
This…
