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The recent wave of market volatility (mostly centred on tech) has made Shopify (TSX:SHOP) stock a tad cheaper. Undoubtedly, the recent 2024 pullback is just a blip compared to the great implosion of early 2022. That said, I still think growth-centric investors should continue to stand by the name as it looks to make a strong case for why it’s one of Canada’s most promising innovators.
Indeed, digital retail is not an easy place to be in. Still, Shopify has found a way to continue to post impressive growth prospects. As the firm looks to enhance its margins without taking its foot off the sales growth pedal, I think Shopify stock has a runway back to all-time highs.
At the time of writing, shares are just down over 50% from their highs. Though such highs were out of reach back in the depths of 2022, I wouldn’t be surprised if they were eclipsed in as little as three years, assuming the company gets…
