The Globe and Mail reports in its Friday, Nov. 8, edition that Shopify posts third quarter financial results on Nov. 12. The Globe's guest columnist Larry McDonald writes that the report may indicate whether its financial flywheel -- an autonomous growth and financing feedback loop -- is regaining momentum. Since its initial public offering in 2015, Shopify achieved consistent growth by beating analyst expectations for 24 consecutive quarters, raising $7-billion for further expansion (all figures U.S.). However, the flywheel slowed when its valuation soared during the COVID-19 pandemic and then dropped as physical stores reopened. Signs of life, however, now seem to be emerging. Over the past eight quarters, Shopify's results have handily surpassed analysts' forecasts, boosting its stock by 150 per cent. This time around, consensus earnings for the third quarter of 2024 are currently projected to be 27 cents per share. The consensus estimate for revenues is projected to be $2.115-billion. Short sellers seem to think the coming quarterly financial report will be below projections and guidance for future quarters could be poor. Over the past 60 days, short sales increased by 30 per cent to $2.7-billion.