Shopify’s platform enables merchants to display, manage, market and sell products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons and marketplaces. It enables them to manage products and inventory; process orders and payments; fulfill and ship orders; find new buyers and build customer relationships; source products; leverage analytics and reporting; manage cash, payments and transactions; and access financing.
The company also sells custom themes and apps, registration of domain names and merchant solutions, such as accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies changed its name in November 2011.
Shopify has a 3.7% weighting in the Ark Fund. Oppenheimer has an Outperform rating and earlier this summer lifted their target price on the shares to $80 from $70. The consensus target is set at $66.51. The final trade on Wednesday was filled at $56.73 up over 5%.
DraftKings
Once the Pandora’s box of ubiquitous gambling was opened, there clearly would be winners and losers, and this company looks like one of the long-term winners. DraftKings Inc. (NASDAQ: DKNG) operates as a digital sports entertainment and gaming company. It offers multichannel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries.
The company operates iGaming through its DraftKings brand in five states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand, in three states. Its Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in 18 states.
Its daily fantasy sports product is available in six countries with 15 distinct sports categories. In addition, it offers DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions, as well as owns Vegas Sports Information Network, a multiplatform broadcast and content company.
Its weighting in the ARK fund is 4.17%. The Truist Financial target price is $44, a Wall Street high. DraftKings stock has a consensus target of $35.70, and shares closed at $27.81 on Wednesday.
These stocks are clearly for aggressive growth investors with a ton of risk tolerance and a long-term time horizon. With those caveats in place, all these top companies could be poised for mega growth in the coming years. Just remember though that these stocks are extremely volatile, have all rallied big and likely still will have wild price swings. If investors can tolerate that, they could be in for some massive gains in the coming years.
Originally published at 24/7 Wall St.
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