Shopify has long-term value, but potential near-term volatility: Expert
BNN Bloomberg
One investing expert says he is bullish on Shopify Inc.’s longer-term prospects but believes investors should be prepared for volatility in the shorter term.
Kash Pashootan, the chief executive officer of First Avenue Investment Counsel, said in an interview with BNN Bloomberg Monday that the Ottawa-based e-commerce company is likely to benefit from the growth of e-commerce.
“Shopify, when you're buying it now, you have to be ready for some volatility. And if it doesn't happen, you won't be upset, but you need to be ready for it if it does happen, given how much it's appreciated in a short period of time,” Pashootan said.
Additionally, he said that Shopify has refocused its operations by reorganizing its fulfillment business and reducing its workforce.
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