I think Shop is going to see some downside in the days coming... first consideration for buying it and going long is the shaded area....... earnngs is coming up in a couple days so it can get messy so use caution.
Comment
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I **may** go long in the shaded area but just for the next lower high, hopefully you can spot it.
Ok I'm in. Im gonna buy the May 6th 450 Puts and sell the May 6th 440 Puts. Giddy up!
nickcast764
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I don't see earnings going well, especially considering Amazon just had bad earnings and they are similar companies
sparo
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@nickcast764, They are not similar companies at all. Amazon is an ecommerce marketplace. Shopify is a platform for businesses who want to sell online. Amazon sells products (among other things). Shopify 'is' the product.
Amazon was hammered by a huge writedown on an electric truck maker (Rivian) and faces headwinds from rising labour and fuel costs (free delivery). Shopify is investing in 3PL to help dropshippers, which could be a giant disaster, but that's to be seen.
No position.
axisofadvance
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@nickcast764, if you're looking at a comparable setup to AMZN, look at W. As @sparo pointed out, AMZN isn't SHOP's competitor, which is essentially a PaaS (platform-as-a-service) provider.
ethtej24
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$300 would be good start for an entry. The 10:1 split is coming up June.
Courtneyd
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Looks like they will drag this to 500 and then sell it off the following week .
Courtneyd
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Looked at the options chains last night and boy did they hype this shit up
Original_Stock_Whisperer
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@Courtneyd, careful when looking at options chain. Its something to look at but can be very deceiving. I think it was last weeks sell off if you looked at the options tape you would never have guessed. Not saying ignore it, its worth a look but don't put all your chips on it. Those paid option print services are really dangerous to, just in my opinion.
Sawyer170
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analysts price targets are all mainly at least $900
axisofadvance
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@Sawyer170, right, along with a high PT of $635.00 for NFLX and $553.00 for FB. Complete nonsense.