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Shopify Inc. Class A Subordinate Voting Shares (SHOP)
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lululemon athletica inc. (LULU)
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Celestica Inc. (CLS)
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DeFi Technologies Inc. (DEFI)
Thx
Our apologies, that is correct, including the US, the weekly share turnover for CLS is roughly 25% to 30%.
This is fairly high, but we are seeing similarly high volumes in names like DEFI, LULU, SHOP (to a smaller degree).
It could indicate that funds are rotating out of these names, but the US volume for CLS has picked up significantly since 2023, and CLS' share count continues to drop over the years as its buyback policy remains in place. We also note that between 2023 and 2024, its weekly average volume was about 13M, which would represent around 10% of its total outstanding shares at that time, and the current share price is about 2X to 3X from those levels. Overall, it is a high weekly share turnover, but we are not overly concerned by this.