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Shopify Becomes Canada’s Second-Biggest Stock

  • Company crosses C$100 million mark on online shopping hopes
  • Stock rallies for 8 days, longest winning streak since 2017
Shopify headquarters in Toronto.

Shopify headquarters in Toronto.

Photographer: Kevin Van Paassen/Bloomberg

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Shopify Inc. skyrocketed again Monday, surpassing one of Canada’s largest banks to become the second-most valuable company on the nation’s stock market.

The e-commerce company’s shares jumped 6.7%, pushing its market value to C$103.9 billion ($73.5 billion). Toronto-Dominion Bank, which was second to Royal Bank of Canada on Friday, rose 0.1% Monday to close with a market value of C$103.3 billion.