‘Amazon Junior’ Throws Weight Around on Canada’s Stock Market

(Bloomberg) — Shopify Inc. is a growing rival to Amazon.com Inc. in e-commerce. The Canadian tech company is still much smaller than the U.S. giant, of course — except in one respect.Ottawa-based Shopify, which went public only five years ago, has come to have an outsized impact on equity returns in its home country. It now accounts for fully 6.5% of the S&P/TSX Composite Index, more than Amazon’s 4.9% weight in the S&P 500.As Shopify goes — and most of the time it goes up, not down — so goes Canada’s main equity benchmark. The stock’s blistering run has added …read more

Source:: Yahoo Finance