Given their massively discounted valuations, growth-oriented investors may want to consider Shopify (NYSE: SHOP), Roku (NASDAQ: ROKU), and SoFi Technologies (NASDAQ: SOFI). Brian Withers (Shopify): The average consumer hasn't heard of Shopify, but its platform enabled 597 million shoppers to buy $175 billion in goods online in 2021.
In recent months, several investor-favorite stocks have been climbing aboard the good ship stock split, but the news of these splits has taken a back seat to the historic volatility and plummeting stock market. The tech-heavy Nasdaq has fallen deep enough to be well into bear market territory, down roughly 29% from its November high, while the S&P is flirting with the bear as well closing the week down 18.7%. Just last month, Shopify (NYSE: SHOP) announced plans for a 10-for-1 stock split, after years of stellar growth had made the shares inaccessible to many retail investors.
Few growth stocks have been hit as hard in the market sell-off as Shopify (NYSE: SHOP). Shares of the e-commerce software leader have plunged 80% in just six months as a combination of shifting market sentiment, slowing growth in e-commerce, and declining valuations in the software-as-a-service sector have all shredded the stock.