A rich valuation implies high growth.All eyes were on Shopify (SHOP -1.28%) last week as it reported its first-quarter earnings results. With the stock up over 120% in the lead-up to the earnings release, investors had high expectations, so its weak outlook was met with severe consequences. Shopify stock has plunged 24% since then.Is this short-term dip a buying opportunity? Let's see how Shopify is doing and where it's likely headed.An e-commerce empireShopify is a global leader in e-commerce software, and ...