Dionysis Partsinevelos
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We recently published a list of 10 Stock Predictions That Jim Cramer Got Right Again. In this article, we are going to take a look at where Shopify Inc. (NASDAQ:SHOP) stands against other stocks that Jim Cramer discusses.
In that older episode, a caller asked whether it was time to buy back into Shopify Inc. (NASDAQ:SHOP), which had dropped roughly 20% following a disappointing earnings report. Cramer wasn’t ready to recommend buying more just yet, urging caution and patience. He said:
“I think you can hold Shopify… You know, Shopify did miss, it did have some issues. I think you actually have to wait till the next quarter, see if those issues are resolved. There was a spending issue — they didn’t seem to need to spend more to get business. I do like the company very much, but I’m not going to just send you in when it’s not the sector in the market that’s doing well.”
Cramer was right to like Shopify as the stock has risen by +76.06% over the past year.
Shopify Inc. (NYSE:SHOP) is a Canadian e-commerce platform that enables businesses of all sizes to create online storefronts, process payments, and manage inventory and logistics.
Cramer commented on the stock’s weird performance following its earnings reports and said something positive about it on May 2:
“Thursday, we get Shopify’s numbers. Here’s another stock that tends to sell off on good news and then rallies when people parse it out and realize that, wow, this company’s more than just a poor man’s Amazon.”
An enthusiastic customer completing a purchase and receiving an order confirmation via one of the companies online sales channels.
Overall, SHOP ranks 7th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of SHOP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
