🛍️ Started a position in $SHOP today
👀 Biggest concern: EV / NTM Gross Profit is one of the highest at 62x due to 53% GM.
👇 Why am I still investing?
📈 Growing 96% at a 3B Run Rate, 12% FCF
🌎 Vision of building a dominant ecosystem. Companies are being built around $SHOP
🐐Rare to find a leader like @tobi who's focused on removing every bit of friction from the entire e-commerce process
🙌 $SHOP's pace of iteration & innovation astounding
📈 Incremental EBITDA margins from payments is underrated & will likely unlock higher LT FCF % ppl realize
🐐Rare to find a leader like @tobi who's focused on removing every bit of friction from the entire e-commerce process
🙌 $SHOP's pace of iteration & innovation astounding
📈 Incremental EBITDA margins from payments is underrated & will likely unlock higher LT FCF % ppl realize
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