Looking For E-Commerce Stocks To Buy Right Now? 3 Names To Know
The year 2020 has been a banner year for many e-commerce stocks. Thatâs because, for many consumers, the coronavirus pandemic quickly turned e-commerce from a convenience into a necessity. Many consumers have ramped up their online shopping for the first time this year. With Christmas sales happening right now, investors are looking for top e-commerce stocks to buy in anticipation of strong sales this holiday season.
It is no surprise that e-commerce stocks are doing great in the stock market right now. With people staying at home, the industry has seen a tremendous increase in active buyers. The added convenience of online shopping presents an alternative that most consumers are likely to depend on even after the pandemic is over. In light of this, the e-commerce industry has been steadily increasing its market share of retail for the majority of 2020. That is likely why most of the best e-commerce stocks to watc
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Did you know that the stock market has historically risen in the last five trading days of December through the first two trading days in January? This calendar effect is called a Santa Claus Rally. There are several theories for its existence, including the increase in holiday shopping, optimism fueled by the holiday spirit, or institutional investors settling their accounts before going on vacation. Here are two stocks that could soar in a Santa Claus Rally.
Shopify
Shopify(TSX:SHOP)(NYSE:SHOP) is a multinational e-commerce company based in Ontario. The all-in-one commerce platform powers over one million businesses worldwide. It enables people to gain independence by making it easier to start, manage, and grow a business.
In an article published earlier today, I’d mentioned that I’d doubled down on my
Shopify(TSX:SHOP)(NYSE:SHOP) position. Clearly, I am still very bullish on this company, even after its 176% increase in stock price this year. However, I am not alone in this boat. Many investors remain bullish on Shopify’s growth prospects, a sentiment further strengthened by the company’s performance last month. In this article, I will discuss the different reasons investors remain bullish on Shopify.
The company’s addressable market is large and continues to grow
E-commerce is being pegged by many, including me, as the industry to watch in the next decade. Online shopping penetration rates remain low around the world. However, the pandemic has shown that consumers are willing to make the shift in favour of e-commerce.