Tech industry warns capital gains proposals could cause ‘irreparable harm’ [Investment Executive - News]
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
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Source: Investment Executive - News
The federal budget is being met with distain from Canada’s innovation industry, including tech darling Shopify, which both positioned capital gains measures embedded in the fiscal plan as a potential cause of “irreparable harm.” The sector is disappointed that the Liberals’ budget tabled Tuesday includes a proposed increase to the proportion of capital gain earnings businesses pay income tax on, to two-thirds from one half. The party is also pitching the hike be applied to individuals for capital gains earnings above $250,000 in a year and come into effect on June 25. It said the increase would only impact the wealthiest 0.13% and result in $19.3 billion in revenue over the next five years. However, the proposal was met with dismay from the tech industry, which immediately began deriding the policies, when the budget was tabled. “My phone was exploding with texts from leaders across the country saying, ‘This is a nightmare. You have to fix this. They don’t know what they’re doing
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News
- DMi Partners Introduces New Shopify Conversion Optimization Service to Help Brands Drive Performance and Revenue Growth [Yahoo! Finance]Yahoo! Finance
- Shopify: Inflection Point Likely Arrived As Fears Peaked (Rating Upgrade) [Seeking Alpha]Seeking Alpha
- Shopify Inc. (NYSE: SHOP) was upgraded by analysts at Citigroup Inc. from a "neutral" rating to a "buy" rating. They now have a $105.00 price target on the stock, up previously from $93.00.MarketBeat
- Monday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Shopify (SHOP) Rises Higher Than Market: Key Facts [Yahoo! Finance]Yahoo! Finance
SHOP
Earnings
- 2/13/24 - Beat
SHOP
Sec Filings
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- SHOP's page on the SEC website