Shopify Inc. (SHOP.TO)

The stock has done very well and they are in a great sector. There is great growth in e-commerce. As a value-based investor, she doesn’t own the stock. It is a momentum growth stock, and it is hard to justify buying it on fundamental valuation multiples.

They had a great move, but it is not cheap. It is really a Canadian success story and there is room to grow. It is a name that people sell when they rotate out of the space. There is a floor around their recently equity issue. It is his largest position in the fund. They have shown their ability to deliver.

There is a sort of a head and shoulders pattern and now we have made a lower high and a lower low, so the trend is breaking. At $110 there is big support. If we break that then we should come back to the next area of big support at $60. Just sit back and watch it.

A successful Canadian technology story. They provide the backend for small businesses who wish to have an online presence. Lately this has been consolidating. If you get this in the $110-$112 range, that would be a pretty good entry point. If you own, continue to Hold. They recently signed a deal with Amazon (AMZN-Q).

Buy or sell? This has pretty much doubled, even after the 15% pullback in the last few weeks. One of Canada’s leading e-commerce names, providing a platform for small/medium sized businesses to get online. They’ve done very well and are rapidly expanding. Trading at a level that is difficult to justify by near term earnings. If you are confident they can continue their leading position 5-10 years from now and dominate the market, it is fully justified to have further upside. Shorter term, it is more picking and choosing an entry point. If you have a profit position, hold onto your core position and take some profit, and maybe buy back when it comes down a little.

This has done very well. An interesting business. They have grown and have proven to the market that it does work. This is a tough entry point. If it moved up another 10%, he would be inclined to sell.

Getting beaten up a little lately because of the rotation out of technology. Longer-term, this company makes a lot of sense for Canadian investors looking for a strong Canadian tech name. They are doing extremely well and their earnings are moving forward. There are no earnings at this stage, so he doesn’t own this.

It is one of those stocks he would not normally be able to buy because the valuation is so high based on earnings today. They are continually investing in growth. They cater to small to mid-sized businesses. They have to keep marketing. They are trying to go up-market to larger corporations. It is nosebleed valuation.

(Market Call Minute) It has a high valuation, but he likes it.

An interesting name, but the valuation is almost in nosebleed territory. You have to have a really, really longer-term perspective to have confidence in earnings growth, to justify the current valuation.

This is part of the Google, Amazon world. Amazon is using them for all of their smaller transactions. Believes they have huge growth in front of them. He would use downturns to gradually move into the stock and establish a position. Take a stab at some of this today.

It had a pullback off its highs as it got caught up in the tech sell off. Short term it is a good buy, but it is an anti-value stock. It is a very rich valuation. It might be an interesting short term trade.

It is a growth stock, very well positioned, but it is a momentum stock and the valuation is too high for her. She would not be buying it and might trim back if it is a big position.

He likes the business model. The company has done exceptionally well and is providing an important service. Has always had a concern in the back of his mind that if Amazon (AMZN-Q) really wanted to get into this space through their own marketplaces, this company would be vulnerable. The stock has done exceptionally well and its valuations are extremely lofty. Investors have to be aware that when you are paying high multiples, a bump in the road could be pretty painful.

Platforms for commercial entities. A great Canadian success story, and has very good legs on it. He would nibble on this at these bad pullbacks of $10-$20.