How & where to buy Shopify stock: SHOP makes big move to take on Amazon

Shopify Inc (NYSE: SHOP) said on Tuesday it will significantly reduce the proportion of revenue it takes from developers that use its store to publish their apps.

For app developers making less than $1 million, Shopify will not take a penny in the form of commission on generated revenue. Developers that generate more than $1 million in revenue will also pay zero commission on the first $1 million and 15% thereafter.

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Shopify has invested heavily in its business over the past few years to better position itself to compete against e-commerce giant Amazon.com, Inc. (NASDAQ: AMZN). For example, Shopify announced in early 2020 a $1 billion fulfillment network to provide a similar distribution network.

If you think Shopify’s latest news to slash fees for some sellers to zero gives it a leg-up against the competition then you would want to buy Shopify stock. The following guide will teach you how to buy Shopify stock (SHOP) online, safely and efficiently.

Where and how to buy Shopify shares online?

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Can Shopify stock rise?

Shopify stock is up around 30% in the past six weeks and is now exchanging hands at $1,482 per share. In comparison, shares of Shopify were trading at a dramatically lower $346 in March 2020, coinciding with the early days of the COVID-19 pandemic and restrictions on business.

The Canada-based company is an evident COVID winner and benefitted greatly from an accelerated shift to eCommerce last year. According to Statista.com, the U.S. is likely to have 300 million online shoppers by 2023. With Americans sticking to buying on the internet despite easing COVID restrictions, Shopify stock may still have room to run higher over the coming months and years.

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