Why Shopify Stock Just Exploded Higher
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Shopify's stock surged 22% after reporting Q2 sales of $2.68 billion, exceeding expectations of $2.55 billion. The company highlighted a 31% year-over-year revenue growth and a 16% free cash flow margin. However, guidance for Q3 suggests a slowdown in sales growth to the mid-to-high twenties percentage rate, raising concerns among growth investors. Despite the positive earnings report, the stock's high valuation at 111 times free cash flow leads to a recommendation to sell.
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