Canadians on Reddit have a habit of sniffing out momentum before it hits the mainstream. Lately, two stocks have dominated those forums. Not because they’re the flashiest, but because these deliver results and drive conviction. Those are Shopify (TSX: SHOP) and Wheaton Precious Metals (TSX: WPM).
Source: Getty Images
SHOP
Shopify has been on an absolute tear. Shares are up nearly 90% over the past year, fuelled by back-to-back quarters of strong revenue growth, expanding margins, and a reputation as the backbone of global e-commerce. In the second quarter (Q2) of 2025, revenue jumped 31% and free cash flow margins came in at 16%, marking the eighth straight quarter of double-digit performance.
That’s the kind of consistency that turns skeptics into believers. Reddit threads are flooded with users comparing Shopify to tech giants and arguing it’s still undervalued relative to its long-term potential. And that’s even with a forward price-to-earnings (P/E) ratio hovering near 98.
What’s fuelling that optimism? For one, Shopify isn’t just growing, but accelerating. Growth in Europe hit 42% year over year last quarter, while North America and Asia Pacific continued to climb. That kind of geographic balance is a big deal, especially when consumer spending is pulling back in some regions. And while the stock split in 2022 helped broaden investor access, many are now doubling down as the company repositions for the next wave of online retail. Still, the price tag is steep, and any slowdown in top-line growth could spook short-term traders. But for long-haulers, Redditors are clear: this is a platform that’s still building its runway.
WPM
Wheaton Precious Metals is a very different story, but no less compelling. It’s not a traditional miner, but a streamer, providing upfront financing to mining companies in exchange for the right to purchase metals at fixed, below-market prices. That model helped Wheaton post some of the best margins in the business. In Q2 2025, it hit record highs across the board as revenue came in at $503 million, net earnings at $292 million, and operating cash flow at $415 million. All were significant jumps from the previous year.
What really has Reddit buzzing is the long-term growth plan. Wheaton’s production profile is forecast to rise from 600,000 to 670,000 gold-equivalent ounces in 2025 to nearly a million by the early 2030s. That’s a massive increase, and it’s backed by new assets coming online, including Blackwater and Goose, which both began contributing in the second quarter. Add in zero debt, a $2 billion undrawn credit facility, and a tidy $1 billion cash pile, and it’s no surprise Wheaton is gaining attention even outside gold circles.
Reddit users also point to Wheaton’s performance during turbulent times. While spot gold prices wobbled, Wheaton has been able to lock in fat margins. Average cash cost per ounce was $470 last quarter, with a cash margin of $2,717. That’s the kind of spread you don’t often see outside tech. The risk here, of course, is metal prices. If gold pulls back, earnings will too. But many investors believe we’re on the edge of a renewed commodity cycle, and Wheaton is positioned to benefit without the usual mining headaches.
Bottom line
Both Shopify and Wheaton draw in different crowds, but show up in the same Reddit threads for a reason. One is a tech growth engine that keeps outpacing expectations. The other is a disciplined metals streamer with huge upside and fortress-like financials. For investors watching the pulse of the market (and forums) these are two Canadian stocks worth following.
