how high can shopify go long term

hello my name is dante and i am calling,from south florida and today my question,is about shopify,so i did pick up some shares of shopify,for about 10.65 a share earlier this,week,i know we are entering this,unpredictable and very unstable,environment when it comes to interest,rates,um i just want to get your opinion on,whether you guys think this was a good,entry level for a long-term hold with,the whole christmas shopping season,being incorporated into the next,earnings report and hopefully looking,promising or if this is a situation,where the risk just outweighs the reward,let's go to mike co on shopify which,mike if you zoom out and look at a,five-year chart of this stock it's been,on a monster run,and yet it's been declining pretty much,since november which has taken it down,in terms of the 12-month performance,what do you do next,stay here sort of hit on the critical,theme which is that you know this is a,company that's trading at a pretty lofty,valuation and that just isn't in favor,that's not a knock on their on their,business model and actually i think i,could sort of see why he was picking it,up around this level i mean if you take,a look uh it might have looked like we,were hitting an area where there could,potentially be some measure of support,but on a risk-reward basis uh you know,the high valuation names are just kind,of a sticky tricky place to be i think,in this first quarter and i i'd probably,avoid this one but you've already had a,win so it's not gonna be painful to get,out right nice move up today as well so,what is the right valuation for a,company like this steve in this,environment,it's trading at you know more than 140,times next year's earnings like what,level,does that need to be at to to be,with a market that's pricing in four,interest rate hikes next year or this,year,yeah i think is it possible to come down,to an exact level as far as a p e ratio,i think you're better off looking,as he did at the technicals and by the,way he picked it up at an extraordinary,price he went back to i think you said,this in the uh the entry to the question,he picked it up on the may support,levels so this stock has has price,swings on a daily basis of between 60,and a hundred dollars,this is one to mike's point that you,want to trade not invest in because if,that support breaks,you're talking about a drastically lower,stock price but he can make a lot of,money,literally day trading the stock,you

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