Shopify's stock has exploded 140% in the last two months making it briefly the biggest company in Canada. Here is why analysts think it won't get any bigger.

Reuters

• Shopify's stock has soared 140% in the last two months as many shoppers flock to e-commerce with lockdowns in place. 
• The stock has risen 4,600% since the stock went public five years ago. 
• Shopify reported earnings of $470 million in 1Q, 47% higher year-on-year.
• Analysts think Shopify is overpriced and shoppers may flock back to the likes of Amazon. 
• Visit Business Insider's homepage for more stories.

Shopify overtook Royal Bank of Canada to become the country's largest company by market cap earlier this month as the stock surged 140% in the last two months alone, and it emerges as one of the biggest winners during the pandemic. 

It currently boasts a market cap of 92.3 billion Canadian dollars ($66.4) and has now slipped back to become Canada's second-largest company by market cap.

See the rest of the story at Business Insider

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