‘Amazon Junior’ Throws Weight Around on Canada’s Stock Market
- Canadian e-commerce firm has outsized returns in home market
- Shopify has added 4.5 points to S&P/TSX Composite returns YTD
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Shopify Inc. is a growing rival to Amazon.com Inc. in e-commerce. The Canadian tech company is still much smaller than the U.S. giant, of course -- except in one respect.
Ottawa-based Shopify, which went public only five years ago, has come to have an outsized impact on equity returns in its home country. It now accounts for fully 6.5% of the S&P/TSX Composite Index, more than Amazon’s 4.9% weight in the S&P 500.