Making sense of the markets this week: February 18, 2024 Feb 16th

All about Canadian investments. Learn the ins and outs and get the latest news.

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Making sense of the markets this week: February 18, 2024

– moneysense.ca

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.

Shopify struggles

Canada’s second-largest company (or third, depending on the day) had a relatively strong earnings day on Tuesday, but the company’s share price took a beating based mostly on decreased earnings expectations going forward.

Shopify earnings highlights
Shopify is listed on both the Toronto and New York Stock exchanges, and it announces earnings in U.S. dollars.

Shopify (SHOP/TSX): Earnings per share of $0.34 (versus $0.31 predicted), and revenues of $2.14 (versus $2.08 predicted).

Shares of Canada’s tech darling were down over 13% on Tuesday, but even with the massive pullback, the share price is still up 14% year to date (YTD).

Shopify’s CFO Jeff Hoffmeister reported the good news that more products were sold on the Shopify platform than ever before. The fourth quarter included the all-important holiday shopping activity, and Hoffmeister announced that Shopify has moved $75…

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