On May 6th, 2020 Shopify was the most valuable Canadian company.
Why Canadian tech is cursed? Nortel, Blackberry, Shopify ...
So I would put Shopify in a different league altogether than RIM or Nortel... these latest moves in fact may help them avoid the fate of the others.
Yeah, it's valuation got way ahead of itself during the COVID-19 Internet Gold Rush. Huge valuation, lack of focus, is normal.
It's still a great tool.
It's interesting how Canada has exactly one globally prominent tech company, no more, no less; as one falls, the next arises. While having one is certainly better than the average of zero for non-US developed countries, and having each be in a different sector is also good, I suspect that each also benefits/benefited from being the hot tech company that those in Canada join if they didn't/couldn't move to the US. (I've seen others mention Shopify being known for lowballing salaeies.)