Update shared on 21 Nov 2025
Fair value Increased 6.86%- Shopify’s Q3 2025 results (reported 4 Nov 2025) showed revenue growth of ~32% and GMV up ~32% despite the challenging backdrop.
- The The Conference Board Consumer Confidence Index shows the expectations component at 71.5 (October 2025) which is below the ~80 level typically seen as a signal of recession risk. This may have a lagging impact on revenue growth.
- At least for now, increase revenue growth rate to 12% as quarterly results stronger than expected.
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