After plummeting from about $77.50 to a low of $60.64 on weak guidance, Shopify (SYM: SHOP) has become incredibly oversold. Helping, analysts at JMP Securities just upgrade the stock to an outperform rating, with a price target of $80.
“Our upgrade is driven by the potential for new merchant cohorts to contribute in 2025 and beyond, Plus, subscription price increases coming on in 2H24, and our belief that the company remains a best-in-class eCommerce platform that is taking share and has multiple adjacencies across financial services, advertising, and merchant services,” said the firm, as quoted by CNBC.
With a good amount of fear now priced into the SHOP stock, we’d like to see it refill its bearish gap at around $77.50 near term.
![🧐 In this video, Dylan discusses a recent Bloomberg article that sheds light on the hidden dynamics within the crypto market.
[Bloomberg Article - https://www.bloomberg.com/news/articles/2024-05-15/crypto-deals-kol-investors-get-big-valuation-discounts]
From influencers to financial gurus, many key opinion leaders (KOLs) are being paid handsomely to promote certain cryptocurrencies, often leading to classic pump-and-dump schemes.
🚨 Buyer Beware: If you're investing in crypto, it's crucial to understand the game being played. As Dylan's grandfather used to say, "If you don't know who the patsy at the table is, you're the patsy." This timeless advice is more relevant than ever in today's volatile crypto landscape.
📈 Whether you're a seasoned investor or new to the crypto space, this video offers essential insights to help you navigate these murky waters. Dylan is not here to debate the legitimacy or utility of cryptocurrencies but to ensure you are aware of the tactics used to manipulate the market.
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