Reported about 2 months ago
Loop Capital's managing director, Anthony Chukumba, discusses why he's holding off on upgrading Shopify’s stock to a Buy rating, despite its recent surge post-earnings. He highlights the volatility of tech stocks and concerns about the sustainability of Shopify's revenue growth relative to its increased marketing spend. Chukumba suggests waiting for a more favorable entry point before recommending the stock, especially amidst fluctuating consumer spending patterns.
Source: YAHOO