Jul. 14 at 6:28 PM
$SHOP The bull case is AI. The bear case is valuation. As Shopify expands into more native functionality (B2B, payments, enterprise features), investors should ask whether that drives durable high-margin growth—or increases execution risk while pressuring the partner ecosystem.
Stock is down ~28% YTD, and at a ~123 P/E, that is just lousy financial performance.
Looking for better than last print's -
$588MM+ GAAP LOSS --> this company needs to prove they can effectively manage the shareholders' assets, despite Tobi's 'god shares'. Their strategy has been an objective failure and the Agentic Commerce narrative is proving a chimera.
New Partnerships magr: saving her job with expensive perks to their overseas #uruguayfunnel partners is going to drive up G&A expenses again. Exdpecting another GAAP loss next print.
Earnings next month need to show monetization, not just product announcements. Watching merchant growth, take rate, operating margins, and management commentary closely. #SHOP
