Does Mr. Market Overvalue Shopify (SHOP)?

Online sales at e-commerce businesses built on Shopify grew by 50% in 2019, Statista estimates. In comparison, Statista calculates that global e-commerce market grew by 21% in 2019.

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Does Shopify (SHOP) make money?

For example, Shopify claims the number of new Shopify stores grew by 62% between 13 March and 24 March 2020, PYMNTS.com reports. However, you can attribute Shopify’s growth to such features as an extended 90-day free trial for standard plans, and allowing all Shopify Merchants to accept gift-card payments.

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