Shopify closes in on RBC in markets

OTTAWA — Shopify has catapulted to the number-two spot in Canadian stock markets, second only to RBC among the country’s largest publicly traded companies and rapidly catching up. The e-retailer’s share price has soared by more than 80 percent in just two weeks. “Investors are scrambling right now to pick post-COVID winners,” Ron Shuttleworth, a partner at Oak Hill Financial, told The Globe & Mail, “and Shopify is considered to be one of them.” With many in-person business operations shuttered, the small and medium enterprises Shopify caters to are scrambling to move their business online.