Shopify’s Shrinking Valuation Summons the Curse of Canadian Tech

(Bloomberg) — Three times in the past 13 years, a Canadian technology firm has burst into prominence and become the country’s most valuable public company. The first two times it proved to be a curse: Nortel Networks Corp. eventually went bankrupt and BlackBerry Ltd. lost its dominance of the smartphone market.

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E-commerce company Shopify Inc. may prove to have more staying power, but its more than 50% drop since Nov. 19 is testing the bulls’ resolve. The swift…

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