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Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow

Trouble ahead?

Shopify Inc.’s ( SHOP-T ) market cap surged ahead of Royal Bank of Canada’s ( RY-T ), and Scotiabank strategist Hugo Ste-Marie notes that the precedents aren’t good,

“Shopify retook the title of largest name in the TSX Composite from Royal Bank last Friday as the name broke through its 2021 all-time highs in recent weeks, hitting close to 7 per cent of the index in weight. Recall that SHOP first earned that title back in June 2020, but after a brief reign, crashed back down in January 2022 during the Tech rout. Precedents remain in favour of RY eventually regaining its title: since RY became the largest TSX name in the early 2000s, every contender has met with a

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