Lightspeed Commerce (Value Destruction)
Montreal-based Lightspeed peaked at CAD$30B in 2021 then lost over 80% after short-seller accusations. While still operating, billions in shareholder value evaporated.
2005 → 2024
$1B
POS/SaaS
Canada
Full Analysis
Montreal-based Lightspeed Commerce, the dual-listed POS SaaS, peaked at over CAD$30B market cap in 2021. A September 2021 Spruce Point Capital short report alleged customer-count and growth misrepresentations. Combined with broader SaaS multiple compression, the stock fell over 80% by 2024 — destroying tens of billions in shareholder value. A canonical Canadian public-markets cautionary tale.
Could This Failure Have Been Prevented?
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