Shopify Leapfrogs Brookfield to Become No. 3 Stock in Canada
- Shopify is now only smaller than RBC and TD in Canada’s market
- Raymond James analyst says stock downgrade was ‘dead wrong’
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A furious rally in Shopify Inc. has vaulted the e-commerce retailer to the third-largest company in Canada -- underscoring the value of the virtual world in the time of the coronavirus.
Shopify soared as much as 10% to a record on Friday after its Chief Technology Officer Jean-Michel Lemieux said in a tweet that the Ottawa-based company was handling “Black Friday level traffic every day!” as it brings “thousands” of businesses online.