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Apr 20, 2020

Shopify leapfrogs TD to become Canada's second-biggest stock

Why Shopify's surge makes one analyst 'nervous'

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Shopify Inc. rallied for an eighth day, jumping as much as 7.8 per cent Monday to a record, as investors piled into the tech stock after its Chief Technology Officer Jean-Michel Lemieux said last week that the e-commerce company was seeing U.S. Black Friday-type of traffic as it brings “thousands” of businesses online.

 

 

Shopify is now the second most valuable stock on the S&P/TSX Composite Index with it’s market value above the C$100 billion mark

It surpassed Toronto-Dominion Bank to take the No. 2 spot Monday

Royal Bank of Canada is now the only company that’s larger than Shopify with a C$122.8 billion market value