Shopify will set record high before Xmas

I am predicting that Shopify (SHOP) will go to a new record high sometime in the next 4 months, likely before Christmas.

The stock is currently trading at around $1937 CDN, and set a record high back in July when it reached $2075.88.

My prediction is that it will top $2200 or more before xmas. Or more. And then stay in the $2100 to $2600 range during 2022.

Which means buying it right now is kind of a no brainer. Stocks like Shopify always go up before the Christmas shopping season, and because of COVID's continuing effect on online shopping, this effect should see a boost since Shopify is geared exactly towards that. Facilitating online shopping.

Shopify is also one of those Darling Stocks that I recommend just buying and keeping. Buy, keep, collect dividends.

Furthermore, you can buy fractional shares of SHOP via Wealthsimple. So you don't need to shell out $1937 to buy stocks in it, you can buy $1 or you can buy $100 or a $1000 worth. Whatever amount suits your fancy.

So let's say you buy $1000 worth when it is worth $1950 or less. Enough to buy 51.28 fractional shares.

Then the stock goes up $2200.

You sell your fractional shares for $1128.20.

Certainly a better move than keeping your money in the bank where you are getting in 0.05% in a TD High Interest savings account. Seriously. The interest rates are so low that even the "High Interest" savings accounts are giving you almost nothing.

0.05% interest over a 4 month period on $1000 is... 16 cents.

So you have to ask yourself, do you want to earn 16 cents of interest from your bank, or at least $128?

Or do what I do. Buy Shopify stock and then just keep it.

Right now it is my "Go To Stock" for whenever I have money leftover in my Wealthsimple account. Any extra money leftover from my other investments gets put into Shopify. That is how confident I am in it. I want to invest in other things, of course, in order to diversify my portfolio (I have a lot of stocks in Canadian gold, silver, copper, lithium and mining operations) and I need to offset my other investments with tech stocks and other topics. Shopify is one of the best Canadian tech stocks you can invest in right now.

The only real trick is that it is so expensive that many people have to buy fractional shares instead of whole shares. Hence why having a Wealthsimple account comes in handy.