August 3, 2020

Canadian markets were closed on Monday but the S&P 500 was up another 0.7%. 

Shopify was up 5.8%. 

The owner of the massive 7-11 chain of stores made a huge U.S. $21 billion deal to buy some 3,900 gas stations from Marathon Petroleum. The headline on the story indicates that Couche-Tard was “beaten out” in the deal.  However it may only be speculation that Couche-Tard made a run for this deal. Couche-Tard does not overpay. Sometimes being “beaten out ” in an auction type situation could be a good thing.

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