Tech companies Shopify (TSX:SHOP)(NYSE:SHOP) and Lightspeed (TSX:LSPD)(NYSE:LSPD) have both been on absolute tears over the past six months. Since the beginning of April, Shopify’s share price has grown more than 200%, while Lightspeed is up more than 225%.
To be fair, the Canadian market in general has been on an incredible run since April. The S&P/TSX Composite Index has grown 27% over the last six months. That’s pretty impressive considering that this index has only delivered 17% growth over the past five years.
So, with the market up almost 30% in half a year, it’s not surprising to see some companies trading at all-time highs today.
Shopify and Lightspeed might each be up 200% in half a year, but I’m not even close to taking profits on either of the companies.
I’ve reviewed why I believe there is still plenty