Can SHOP and AMZN, Stocks That Soared Up to 124% After Split, Surge Again in 2024?

The stock market has always had its darlings, and for good reason. Certain companies consistently deliver on growth, innovation, and shareholder value. Among the market favorites are two tech-oriented giants: Shopify Inc. SHOP and Amazon.com, Inc. AMZN. After undergoing stock splits in 2023, these companies saw their stock prices soar by 81% to 124%. Investors are now asking: Can these stocks double in value in 2024?

An Overview of Shopify Inc. SHOP

Commerce powerhouse Shopify Inc., based in Ottawa, Canada, has established itself as a leading e-commerce solution provider, serving customers across the United States, United Kingdom, Australia, Latin America, and beyond. With its comprehensive commerce and service platform, SHOP enables businesses of all sizes to flourish in the increasingly digital marketplace. In 2023, after a strategic stock split decision, the company's shares rocketed, capturing investors' attention worldwide.

Amazon.com, Inc.'s AMZN Market Impact

As a dominant force in the tech sector, Amazon.com, Inc. represents a critical component of the prestigious Big Five in the U.S. information technology industry. Known for its vast e-commerce operations, as well as pioneering work in cloud computing, digital streaming, and AI, AMZN is a symbol of economic and cultural influence. Its status as the world's most valuable brand only cemented investor confidence, leading to substantial growth post-stock split in 2023.

Investment Considerations for SHOP and AMZN

Investors are often captivated by a simple investment philosophy: winners continue to win. In light of SHOP and AMZN's exceptional performance following their stock splits, market enthusiasm remains high. As both companies continue to innovate within their sectors and expand their market reach, the question on many investors' lips is whether their respective stock prices can once again double in the following year. With their solid financials, strong growth prospects, and investor favorites status, SHOP and AMZN are closely watched for their potential exponential growth in 2024.

SHOP, AMZN, stocks