Meet the Other Tech Companies Propping Up Canada’s Stock Market
- Aside from Shopify, Kinaxis, Real Matters are surging
- High valuations, sector rotation are downsides for tech
Photographer: James MacDonald/Bloomberg
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Shopify Inc. may be hogging all the headlines but there are other tech companies keeping the rebound going on Canada’s stock market this year.
Shopify’s near 90% surge this year has put it in the No. 1 spot on the S&P/TSX Composite Index but Kinaxis Inc. and Real Matters Inc. are close behind, up 70% and 67% respectively -- making them the third and fourth largest gainers. Hydrogen fuel cell company Ballard Power Systems Inc. is second with a 75% gain.