Shopify’s Q2 financial results surpassed analyst expectations, with the company operating in over 175 countries worldwide. Investors are advised to monitor the stock’s valuation closely. Despite trading 15% below its record high, Shopify shares have climbed 399% in the last three years. The company’s fundamental momentum is strong, with 31% year-over-year growth in gross merchandise sales and revenue. Shopify has facilitated $1.2 trillion in commerce since its inception. While the stock is nearing its all-time high, its high valuation presents a potential challenge. The Motley Fool’s Stock Advisor team has identified the 10 best stocks to buy, with Shopify not making the cut. Stock Advisor boasts an average return of 1,058%, significantly outperforming the S&P 500.

Read more at Nasdaq: 1 Reason Shopify Stock Is Approaching All-Time Highs