8 Best TSX Stocks To Invest In Now

2. Shopify (NYSE:SHOP)  

Number of Hedge Fund Investors: 56

Shopify (NYSE:SHOP) is a leading global company that provides an e-commerce platform to enable businesses of all sizes to create online stores and manage their digital sales. Shopify’s (NYSE:SHOP) e-commerce platforms are known their speed, customization, reliability, security, and delivering a better shopping experience by using an ecosystem of applications and payment processing services. Shopify (NYSE:SHOP) powers millions of businesses in more than 175 countries and continues to expand its market share globally.

Shopify (NYSE:SHOP) is leveraging AI to enhance its offerings and provide a more personalized experience for customers and is enabling merchants to streamline their operations, improve customer engagement, and drive sales. Shopify’s (NYSE:SHOP) AI-powered tools can help merchants generate high-quality content, optimize product recommendations, and provide lightning-fast customer support. Additionally, the company’s AI-driven insights help merchants better understand their customer’s behaviour and preferences, allowing them to make data-driven decisions and stay ahead of the competition.

Shopify (NYSE:SHOP) has a robust monthly recurring revenue and subscription growth. Despite challenges posed by the current economic landscape, the company’s ability to adapt and innovate has allowed it to maintain its momentum, making it an attractive investment opportunity for those looking to capitalise on the growth of online retail. In the second quarter, Shopify’s (NYSE:SHOP) stock was held by 56 hedge funds with stakes worth $2.39 billion.