Investors should buy Shopify for even more success

Article Excerpt

Shopify’s stock continues to surge, and it’s currently the most valuable company on the Toronto Stock Exchange. With its $123.6 billion market cap, it’s just ahead of long-time leader Royal Bank at $120.8 billion. Some other well-known Canadian stocks have reached the top over the years—only to crash in spectacular fashion. This includes Nortel Networks, Valeant Pharmaceuticals International and Research in Motion. But with its strong and constantly evolving product lineup, combined with more and more e-commerce activity, we think Shopify will escape the fate of those firms, and keep moving higher for you. SHOPIFY INC. $1,069.67 (Toronto symbol SHOP; TSINetwork Rating: Extra Risk) (www.shopify.ca; Shares o/s: 116.8 million; Market cap: $123.6 billion; No dividends paid) offers merchants of all sizes Internet-based software to design, set up and manage stores across multiple sales channels. Shopify has just released Shop, a mobile shopping app designed to help consumers find products and connect with local businesses. It developed the app in response to COVID-19 social distancing and stay-at-home containment…

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