Shopify’s 50% Slump Proves That It’s No Amazon
- Canadian firm has given back most of its early pandemic gains
- Stock is biggest loser on the TSX after $83 billion wipeout
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Shopify Inc. has been called “Amazon Junior.” Those shoes are proving too big to fill.
Both companies are seen as bellwethers for the e-commerce sector and they are index heavyweights, too: Shopify is 3.1% of Canada’s benchmark stock index and Amazon.com Inc. is 3.7% of the S&P 500.