$SHOP Shopify is recovering after a pull back-Long Call
Posted: Jun 14, 2024
- Don't take this as financial advice - Shopify ($SHOP) stock hit due to net loss from selling logistics business - Balance sheet shows $5 billion in cash giving it room for growth - Company continues to grow subscription revenue with Shopify Plus - Recent loss was due to sale of logistics business, growth initiatives in place - Technical analysis shows support at $55 to $58, expecting slow rise to $75 range - Position is August 16 call $75, 14 contracts, expecting room for stock to go up
🚨 Reddit sentiment: mixed/positive - While there is a mix of opinions with some expressing skepticism about $SHOP's valuation, the overall sentiment leans towards positive views on the stock’s potential and utility, with some users planning to buy Calls and others noting recent positive performance. Summarized comments: - Some users plan to sell their $SHOP stocks to join Calls and may hold the stocks longer because they feel like it may perform better after Black Friday - Users express gratitude for shared due diligence (DD) - One user mentions trading $SHOP in both directions and using the platform, but is skeptical about its valuation and foresees a potential drop under $30 - Another user agrees that $SHOP's platform is easy to use, especially for startups, but leaves valuation concerns to experts and points out the stock's recent performance and price target Stock tickers discussed: $SHOP
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