|Bid||1.2200 x 47300|
|Ask||1.2400 x 45100|
|Day's Range||1.2250 - 1.2800|
|52 Week Range||1.1200 - 8.6900|
|Beta (5Y Monthly)||2.99|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Institutional investors, for instance, often have requirements as to the type of stocks they can hold, and if a stock doesn't meet those, they can't buy it. In Canada, the S&P/TSX Composite is comparable to the S&P 500 as it holds the Toronto Stock Exchange's top stocks and is a gauge of how the Canadian market is doing. Although a reason wasn't given for the deletion of Aurora from the S&P/TSX Composite, market capitalization is a key eligibility factor and seems to be the most likely reason for the change.
Marijuana stocks continued to rebound from last week's sell-off on Wednesday, with shares of Canopy Growth (NASDAQ: CGC) gaining 4.2%, Tilray Brands (NASDAQ: TLRY) up 4.8%, and Aurora Cannabis (NASDAQ: ACB) leading the whole pack higher with a 5.4% gain as of 1:40 p.m. ET. The Nasdaq -- to which index all three of these cannabis stocks belong -- is up 1.5% in midafternoon trading. This morning, Canopy announced that in an effort to progress from losses toward profitability, it will divest its Canadian Tweed and Tokyo Smoke retail operations and focus in the future on producing "premium" branded cannabis as a consumer packaged goods company.
As bad as the stock market has been doing of late, cannabis stocks have been even much worse buys. As of Sept. 26, the Horizons Marijuana Life Sciences ETF's price is down 61% over the trailing 12 months, versus the S&P 500's more modest decline of 18%. Buying on the dip is a tricky prospect for cannabis investors because pot stocks have continually gone in one direction: down.