Q: What do you think of the G&M article titled - “Shopify is now bigger than Royal Bank and the precedents aren’t good, says Scotia strategist”
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5i Research Answer:
This is nothing that has not been written before, when SHOP was previously the biggest in Canada. The Globe even had a positive piece on it a few months ago, saying it was justified. No matter, there is of course zero connection to SHOP to the others, particularly on the debt side (SHOP is flush with cash). Just because others failed does not mean SHOP does. Canadians should be proud of SHOP's success, not negative.