Shop is a solid entry with panic selling. Upcoming earnings will define the direction. If the earnings turn out to be neutral or 2% up, the stock will find a bottom. Overall, big investors are pulling out with a fear or NFLX and macro-factors.
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My entry is 568, should be able to load more if it settles here for another week or so.
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Shopify is finally very cheap, and has erased all pandemic related gains. Now the real value comes in to play. It will face an uphill challenge as industry overall is negative. The stock is overall below volume weighted avg. It still holds a significant market cap. It also plans to buy Deliverr in Billions. The company has money and less debt. I don't see any reason why this will not rebound and trade above 500 for a while at least. If it does, I will hold.
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Another entry loaded at 367 a few weeks ago. I am patiently waiting for a rebound.
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Shop splits, and trades sideways 30-40. Once the key b/o happens, we shall resume the uptrend. For now, 2022 can be a consolidation above $30 unless broken. The longer it trades above, the better it is for bulls.