Over the last month, the stock market’s experienced a major pullback. Due to uncertainty over the impact of tariffs, the FTSE 100 index has fallen about 8% from its highs while America’s S&P 500 has dropped about 12%.

Now, for those with a long-term mindset, this weakness could be a major opportunity. By making a few moves in an ISA now, while shares prices are low, investors could potentially set themselves up for solid gains in the long run.

The opportunity to buy low

It’s never easy to invest during periods of uncertainty. Share price volatility can be uncomfortable and it can feel very risky putting new money into the market.

History shows however, that putting money to work in the markets during periods of weakness can be financially rewarding in the long run. Often, stock prices go on to rise significantly in the following years. For example, during the Global Financial Crisis of 2008/2009, the FTSE 100 index was trading below 4,000 at one point. Five years later, it was near 6,500 – more than 60% higher.

More recently, the S&P 500 was trading near 2,500 in early 2020 during the coronavirus pandemic. Less than five years later, the index was above 6,000 – 140% higher.

Now, there’s no guarantee that stocks will perform well over the next five years, of course. We live in an uncertain world and stock market movements are unpredictable. But if an investor has a long-term horizon, I think allocating some capital to stocks now is smart. Taking a five-year view, I think there’s a decent chance that it will pay off.

The right risk level

It’s worth noting that investments can be tailored to individual risk tolerance. For those looking for a lower-risk option, they may want to consider an investment fund such as the Legal & General Global 100 Index. This provides exposure to 100 well-established businesses.

For those willing to take on a bit more risk however, investors may want to consider a few individual stocks. This is riskier than a fund but it could lead to higher gains in the long run.

A beaten-down stock

One stock I think is worth considering (one I’ve been buying recently) is Shopify (NASDAQ: SHOP). It operates one of the world’s largest online shopping platforms. Back in February, this stock was trading near $130. Today however, it can be snapped up for $83 and I think that’s an attractive entry point.

Over the next five years, the online shopping industry is likely to get much bigger. Forecasts vary, but experts say it could grow by anywhere from 8% to 20% a year between now and 2030.

As a platform company, Shopify’s well placed to benefit from this industry growth. Using its platform, new retailers can set up an online store and start selling their products in next to no time.

Of course, Donald Trump’s tariffs and a potential recession are risks here in the short term. These cloud the near-term outlook for revenue and earnings. Another risk is the valuation. As a growth stock, Shopify has a high price-to-earnings (P/E) ratio.

Taking a five-year view however, I’m optimistic about the company’s prospects. I wouldn’t be surprised if Shopify’s trading at significantly higher levels by 2030.