Is Shopify (SHOP) One of the Best Tech Stocks to Invest In on the Dip?

Shopify Inc. (NASDAQ:SHOP) is one of the best tech stocks to invest in on the dip. On June 2, Shopify Inc.’s (NASDAQ:SHOP) Board of Directors authorized an additional $3 billion for the repurchase of its Class A subordinate voting shares. The move brings the company’s total buyback authorization to $5 billion.

As of June 1, the company had repurchased about $1.45 billion in shares under its current authorization. So, the $3 billion top-up refreshes and significantly enlarges the runway for continued buybacks. The original $2 billion share repurchase program was authorized in February and was announced alongside Shopify’s Q4 2025 earnings. In those earnings, the company reported full-year revenue of $11.6 billion, a 30% year over year growth, and $2 billion in free cash flow.

Separately, on May 25, Manus AI announced the launch of a native Shopify integration that will enable users to build, manage, and grow a Shopify store entirely through a conversational chat interface. Manus explained that all a user needs to do is describe their business idea in a single prompt, and it drafts the full storefront.

Beyond store creation, the integration allows users to drop a spreadsheet and product photos into the chat, and Manus will write product listings, match images to SKUs, and draft descriptions in the store’s brand voice. Manus can also query the store’s actual Shopify data to identify slow-moving products, flag top-performing collections, or surface repeat customer behavior. The platform can also generate marketing campaigns grounded in real store performance metrics.

Shopify Inc. (NASDAQ:SHOP) is a commerce technology company. It provides a cloud-based platform enabling businesses to create, manage, and scale online and offline retail operations.

READ NEXT: 8 Best Defensive Stocks to Buy Amid Geopolitical Tensions and 10 Best Forever Stocks to Buy According to Analysts.

Disclosure: None. Follow Insider Monkey on Google News.