With the market seemingly hitting new all-time highs every day, the value investors in us are getting bored. There just don't appear to be many good values out there, and we're passing the time by putting together a wish list of stocks we can't wait to buy when they go on sale. Topping our lists are Shopify (NYSE: SHOP), Ritchie Bros. Auctioneers (NYSE: RBA), and Retail Opportunity Investments (NASDAQ: ROIC), which all, oddly enough, have something to do with shopping.
Can't wait to shop for Shopify on sale
Alas, I wasn't allowed to -- and the stock ended up rising 8% on the day. But just because I missed my opportunity doesn't mean I won't be waiting for the next opportunity to buy this stock on sale.
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Shopify provides a platform for businesses of all sizes to establish an online presence. The company benefits from incredible growth rates and high switching costs: Vendors would be loath to switch online providers when all of their information and personalized e-commerce solutions are in a single space with Shopify.
Of course, the big problem is that the market has taken notice of Shopify's growth. The stock has tripled over the past year -- and is yet to be profitable. That adds a measure of risk. I, however, think management's decision to aggressively reinvest in the company's platform is a great long-term decision. I'm willing to...