Shopify rallies $8 after being featured in Insights

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On Monday night we published and distributed our weekly Canadian Insider Insights newsletter, Will the bulls keep up the energy to win? Our insider of the week was Shopify (SHOP) CEO Tobias Lütke. In the report, we highlighted that thanks in part to his large holdings in the company, the stock ranked very high in terms of insider commitment.

Shopify CEO Tobias Lütke*

We suggested this was bad news for short-sellers as our INK short signal for the stock was pointing to a potential short-squeeze. Generally, we believe short-selling strategies are best targeted at stocks that do not have strong insider commitment rankings. More often than not, we expect the insiders to come out on top of a short-selling challenge.

So far so good for our bullish signal on Shopfiy. Since Monday's close, SHOP is up more than $8 on the TSX.

We update our short signals twice a month on INKResearch.com following the release of the bi-weekly IIROC report. We may also highlight notable situations via our free Canadian Insider blog posts and weekly Insights. If you are a registered Canadian insider user, it is easy to subscribe to both by selecting to be alerted when a new blog or newsletter is published via your account settings. If you are not already a member, you can join us here.

*Image credit: By Union Eleven - Union Eleven, CC BY-SA 3.0

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