Hi all,
Sorry. I have been sick and haven’t written much for the last two weeks but I have something very exciting for you.
For those following us, I discovered Shopify ($SHOP) when it was in the $60’s shortly after their IPO and after having a meeting with one of their co-founders. I didn’t like him much but I saw a tremendous potential in the company. But given that not too many companies from our 51st state a.k.a Canada make it big, I allocated a small portion of my portfolio and sold after achieving 3x return. Yeah, in hindsight, that was a big mistake. Call me an idiot, short-sighted or whatever but no regrets as I made a very good return. It also taught me not to sell my $SQ until I got my 10x return since the IPO although there were moments I thought about selling them around 6x.
Anyway, I have been looking for the next $SHOP. After doing some research, I think I might have found it. It’s called Global-E Online ($GLBE). Similar to Shopify specializing in helping companies and entrepreneurs to start their e-commerce, Global-E serves e-commerce companies looking to grow their international business. While some might think it’s not that difficult to expand overseas but it’s quite difficult.
You have to deal with
- language barriers
- challenges with payment and currency (not to mention tax and duty)
- difficulties handling local shipping as well as returns
- lack of capabilities to do local marketing
- complex local regulations
This is where $GLBE comes in…making it easy for growing companies to expand. Their clients include well-known brands like Michael Kors, Marks & Spencer and Hugo Boss. And I am not the only one who thinks they have a bright future. Yes, we don’t trust much from Motley Fool but they think so. Someone at Seeking Alpha (another laughable site) think so as well. Someone at Benzinga thinks it will be the next $SHOP.
Conclusion: t’s been down a bit and it’s an amazing buying opportunity. With it’s growth, I believe this can be 5x-10x from where it is in the next several years and maybe even get acquired by Shopify or one of their competitors. Or even Amazon.