Shopify Stock Just Plunged. Here's Why I'm Not Selling

Shopify stock fell 10% after Q3 results despite strong fundamentals: 32% revenue growth, 66% operating income growth, and $816M free cash flow. The decline was driven by GMV growth slightly missing expectations (29% vs. anticipated higher) and subscription revenue falling short. The author maintains his position, viewing the drop as market overreaction to near-perfect valuation expectations rather than fundamental deterioration.