Buyers Beware: Shopify is Not the Next Amazon

Shares in Shopify (SHOP-T) reached new all time highs and recently became the most valued stock on the TSX in Canada by market cap. The shares traded 6.94% higher to close at $1034.32, giving the stock a market cap of 121.26 Billion. That was enough to beat out Royal Bank of Canada (RY-T) which closed at a share price of $84.62 with a market cap of 120.50 Billion. If you are thinking of purchasing Shopify shares, buyers beware, Shopify is not the next Amazon.