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Surging Shopify and energy strength lift TSX [Video]

TORONTO — Canada’s main stock index recovered some of Wednesday’s losses as tech darling Shopify Inc. surged after receiving an analyst upgrade.

TORONTO — Canada’s main stock index recovered some of Wednesday’s losses as tech darling Shopify Inc. surged after receiving an analyst upgrade.

The Ottawa-based company’s shares gained 5.9%, accounting for about 85% of the TSX’s daily increase.

Shopify shares moved after Royal Bank of Canada put a US$1,000 target price, up from Thursday’s close of US$863.56.

“It continues to be a huge winner,” said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc.

The momentum and interest in this name follows on the positive announcement earlier this week of its partnership with Walmart.

“One of the most clear patterns that we’re seeing in the marketplace is just this continued demand for tech stocks and Shopify is a prime example of that in Canada,” he said.

The S&P/TSX …

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Shopify store marketing dropshipping marketing facebook ads - Best E-Commerce Marketing service [Video]

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Shopify

Welcome to DAY 5 of the 5-day LIVE Shopify Training with Rafael Cintron! 🚨Here's what you'll learn: 1 - How to combine winning products, winning ads, and a w...