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Shopify Avg. Monthly Traffic Exceeds Amazon during Q2
During Q2, Shopify's average monthly traffic was more than Amazon (excluding Amazon affiliates like Prime Video or Music). Shopify averaged 1.16B unique visitors, while Amazon averaged 1.1B.
I've set a limit order set for $SHOP at $1,270, which is near the 50 W MA.
Shopify has respected this trendline since the March 2020 lows. It has dipped below it a few times, but has always recovered strongly.
I mistakenly sold this name near $1,1100, a few months back right before the Archegos fiasco. It fell below my selling price, so I thought I had made the right decision at the time. I've now realized that I misjudged Shopify's potential.
Institutional shareholders that added during Q2 include Tiger Global, Sands Capital, and Capital Research Global.
Shopify is extremely popular among hedge funds. The largest hedge fund owners include Lone Pine, Coatue, and Foxhaven.
Business Insider
Shopify just beat Amazon in one important metric, showing the intensifying competition between the 2 e-commerce giants
Shopify is now bigger than Amazon by at least one measure: online traffic.
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