Authorization

Shopify's stock has exploded 140% in the last two months making it briefly the biggest company in Canada. Here is why analysts think it won't get any bigger.

Shopify's stock has exploded 140% in the last two months making it briefly the biggest company in Canada. Here is why analysts think it won't get any bigger.
Reuters



Shopify's stock has soared 140% in the last two months as many shoppers flock to e-commerce with lockdowns in place.




The stock has risen 4,600% since the stock went public five years ago.




Shopify reported earnings of $470 million in 1Q, 47% higher year-on-year.




Analysts think Shopify is overpriced and shoppers may flock back to the likes of Amazon.




Visit Business Insider's homepage for more stories.



Shopify overtook Royal Bank of Canada to become the country's largest company by market cap earlier this month as the stock surged 140% in the last two months alone, and it emerges as one of the biggest winners during the pandemic.
It currently boasts a market cap of 92.3 billion Canadian dollars ($66.4) and has now slipped back to become Canada's second-largest company by market cap.
Coronavirus has torpedoed economic activity and led most conventional stores to shut down, leaving shoppers to resort to online retailers.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Июнь 2020    »
ПнВтСрЧтПтСбВс
1234567
891011121314
15161718192021
22232425262728
2930