Shopify’s sweetheart week has it encroaching on market stalwarts
|Toronto Star 15 Feb 2020 at 18:45|
After surging annually since its 2015 initial public offering, it has rallied 36 per cent to a market value of almost $82 billion in 2020, making it the seventh-largest company on the S&P/TSX Composite Index. That puts it about $8 billion away from usurping Bank of Nova Scotia — the fifth-biggest company. Canadian National Railway Co. is No. 6 on the benchmark.
Shopify’s value has climbed about $7.9 billion just this week as fourth-quarter revenue topped analysts’ estimates and the provider of online shopping tools gave an optimistic forecast for the year.