Another play on acronym. I have never bought the counter SIA before and have no intention to do it in the foreseeable future.

Shopify is one of the top 10 counters in my portfolio based on invested amount. However, due to the price capitulation last year, it has gone from positive return to a loss in my portfolio. Despite that, I continue to like its business model and confident of its long term prospects.

As for InMode and Airbnb, both are smaller positions and they have gone from positive return to a loss and now back to breakeven.

I will continue to hold on to my stake of all three counters.

Shopify stays on track for its business growth

Shopify continues to attract big brands to work with them. From Shopify Plus to the new Commerce Components and System Integrator Partnerships, we can see big names in each of these categories.

Harley Finkelstein, Shopify’s President said the following in the earning call,

We’re not only seeing merchants automatically upgrade on their own from our core product and our core plans to Shopify Plus. But we’re also seeing other brands leave existing platforms to come to Shopify Plus as well. So they come to us for, plus they want everything that Shopify offers, whereas commerce components, they can pick and choose using this composable commerce stack. And we think it just – it’s going to be, it’ll be really interesting for us to see who we’re able to bring on, but so far the response and the reaction from the enterprise market has been incredible.

The potential is really huge for the company as they continue to capture these businesses.

Mr Market is really short term. As the after hours price tells you, he is not impressed by the Q1 forecast but that’s really missing what Shopify can bring in for a 3 to 5 years timeframe.

If you zoom out, basically Mr Market is valuing Shopify just slightly higher than its pre-pandemic price, despite its tremendous growth she has made from 2019 to 2022. I can only say Shopify is a victim of her own success during the pandemic period.

InMode continues its steady growth

The above image would have piqued the interest of any fundamental investor. 6 years of double digits growth in both top and bottom lines. What and how did they do it? In short, InMode produces aesthetic solutions using RF technology as an alternative to current laser technology.

Based on the numbers, they are definitely gaining market share over the years. From the earning call, not only are their current platform EmpowerRF gaining traction beyond their own guidance, they are introducing new product Envision that is used for dry eye treatment. These two platforms look their main growth drivers for the coming few years and if they manage to become market leaders, then they would bring product to the wellness in the ENT, urology, erection dysfunction and other in the future.

Airbnb turns the corner and becomes profitable!

A good year for Airbnb as revenue is up by 40% and reports its first full year profit. With the pandemic over, the demand is back and this should continue in the coming year. Two positive trends highlighted are the urban growth and duration of stay. All look good and she should continue to do well going forward.