326.00 +0.15 (0.05%)
Pre-Market: 4:58AM EDT
|Bid||0.00 x 900|
|Ask||329.00 x 800|
|Day's Range||317.55 - 331.89|
|52 Week Range||117.64 - 409.61|
|Beta (3Y Monthly)||1.26|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Why aspiring Canadian retirees should be careful they don't invest in stocks with heavy billionaire ownership like Shopify Inc (TSX:SHOP)(NYSE:SHOP).
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,834.75, up 83.44 points.)Encana Corp. (TSX:ECA). Energy. Down 48 cents, or 6.53 per cent, to $6.87 on 15.8 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Down four cents, or 1.78 per cent, to $2.21 on 13 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Down 22 cents, or 3.51 per cent, to $6.05 on 8.4 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 27 cents, or 3.72 per cent, to $6.99 on 8.1 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $1.12, or 2.95 per cent, to $36.85 on 8 million shares.Kinross Gold Corp. (TSX:K). Materials. Up 35 cents, or 5.38 per cent, to $6.86 on 5.8 million shares.Companies in the news:CannTrust Holdings Inc. (TSX:TRST). Down 29 cents or 14.6 per cent to $1.70. CannTrust Holdings Inc. says it received a notice of licence suspension from Health Canada, which has been investigating the cannabis company for allegedly cultivating pot in unlicensed rooms. The Vaughan, Ont.-based company says Health Canada has suspended its authority to sell cannabis or to produce cannabis, other than cultivating and harvesting.Magna International. (TSX:MG). Unchanged at $71.32. Canadian manufacturers say they are keeping a close eye on the strike at General Motors in the U.S. as workers picket for a second day. More than 48,000 unionized workers in the U.S. walked off the job Monday over issues such as wages, health care and job security in the first strike at the U.S. manufacturer in more than a decade. Magna International spokesman Scott Worden said in a statement that the auto parts maker was in a "wait-and-see" mode and declined to outline impacts so far.Canopy Growth Corp. (TSX:WEED). Up 59 cents or 1.6 per cent to $37.50. Canopy Growth Corp. expects to complete its search for a new chief executive officer by the end of the calendar year, its chairman said Tuesday during its first annual meeting without co-founder Bruce Linton at the helm. Chairman John Bell commended Linton on his hefty contributions to the Smiths Falls, Ont.-based cannabis producer. Meanwhile, Linton also on Tuesday, announced his next moves will include advisory roles including at U.S.-based dispensary company Gage Cannabis Co. and Toronto-based Mind Medicine Inc., which is focused on psychedelic-based medicines.Imperial Oil Ltd. (TSX:IMO). Up 26 cents to $36.57. Imperial Oil Ltd. announced Tuesday that chairman and chief executive Rich Kruger will step down after leading the Calgary-based company, which is about 70 per cent owned by Texas-based Exxon Mobil Corp., since 2013. In his role, Kruger complained publicly often about red tape, focusing in recent years on how long it took to win Alberta regulatory approval for the two-phase, 150,000-barrel-per-day Aspen thermal oilsands project, first proposed in 2013. Analysts said they expect little change in direction under Brad Corson, a 36-year Exxon employee who becomes president immediately and becomes chairman and CEO on Jan. 1.Shopify Inc. (TSX:SHOP).Down $11.81 or 2.6 per cent to $435.67. Shopify Inc. says its e-commerce and retail platform has been given new features to help U.S. merchants sell hemp and hemp-derived cannabidiol products where permitted by law. The announcement follows last year's passage of U.S. federal legislation that removed hemp from the Controlled Substances Act, which still covers cannabis products. Hemp may contain CBD, a compound with potential medicinal qualities, but without significant levels of THC — a compound in cannabis that produces a high. Shopify says the new features will help its clients tap into a growing regulated industry in the U.S. by providing tools for marketing, payments and shipping products. The Canadian Press
NEW YORK — Shopify Inc. says its e-commerce and retail platform has been given new features to help U.S. merchants sell hemp and hemp-derived cannabidiol products where permitted by law.The announcement follows last year's passage of U.S. federal legislation that removed hemp from the Controlled Substances Act, which still covers cannabis products.Hemp may contain CBD, a compound with potential medicinal qualities, but without significant levels of THC — a compound in cannabis that produces a high.Shopify says the new features will help its clients tap into a growing regulated industry in the U.S. by providing tools for marketing, payments and shipping products.The Ottawa-based company's platform is used by merchants in roughly 175 countries to set up and manage sales operations across multiple channels including mobile apps, online portals and physical store locations.Shopify shares have more than doubled in value over the past year, but currently trade below their 52-week high of C$543.76, set Aug. 27. They were down $9.07 at $438.41 in early trading Tuesday. Companies in this story: (TSX:SHOP)The Canadian Press
Jim Cramer disclosed his position on Shopify (SHOP) stock. He sold the stock at $388 on August 23. Cramer bought the stock for $260 per share in May.
(Bloomberg) -- Shopify Inc. is introducing new features for U.S. retailers of hemp and CBD, expanding its cannabis e-commerce platform south of the border.The Ottawa-based company plans to offer tools including online store design, payment, shipping and marketing in more than 40 states to merchants of hemp-derived cannabidiol, which was legalized in December and is found in everything from skin creams to snacks.“We aren’t really getting into the CBD business, CBD is getting into the retail business,” Loren Padelford, vice president and general manager of Shopify Plus, said in a phone interview ahead of the announcement.Shopify’s platform is already widely used for online sales of recreational cannabis in Canada, where the drug was legalized 11 months ago. Government-run websites in several provinces including Ontario and British Columbia, as well as private companies like Canopy Growth Corp., Aurora Cannabis Inc. and Hexo Corp., use Shopify’s point-of-sale system.Padelford declined to say how big the cannabis business could become for Shopify, but cited a recent forecast from BDS Analytics and Arcview Market Research that the U.S. CBD market could be worth $20 billion by 2024.Shopify’s stock has fallen about 17% from its recent high on Aug. 27 as investors shifted from growth to value investments, but it’s still up 137% this year, making it the second-best performer on Canada’s S&P/TSX Composite Index.To contact the reporter on this story: Kristine Owram in Toronto at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, ;David Scanlan at email@example.com, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
MONTREAL — U.S. President Donald Trump's push to withdraw from an international postal treaty could have a big impact on Canadian e-commerce companies that ship small goods from China to the U.S.The U.S. threat to exit the Universal Postal Union in October unless more balanced shipping fees with China and other countries can be reached this month means some online retailers in Canada may see direct-to-consumer delivery prices leap — though e-commerce businesses that send products to the U.S. will remain largely unaffected.The 145-year-old treaty, which sets the rates that 192 national postal services pay one another to complete deliveries, mandates wealthier countries to pay more than developing countries, including China.The Trump administration's move for the United States Postal Service to set its own rates would affect drop-shipping — which refers to retail deliveries made directly to the buyer from a manufacturer or wholesaler — said Todd Coupland, an analyst at CIBC World Markets.Many drop-shippers in the U.S. use Ottawa-based Shopify Inc. as their retail platform. A dip in deliveries and more shuttered online storefronts could dent Shopify's bottom line, which relies on payment-processing fees and user subscriptions."They get a percentage of that transaction. So if that transaction doesn’t happen, then they wouldn’t get that rate," Coupland said of Shopify, whose customer base includes many drop-shippers.The structure of payments — known as terminal dues — under the postal treaty needs to be reshaped for 21st-century supply chains, said Dan Kelly, president of the Canadian Federation of Independent Business.“If Canada, the U.S. and other developed nations are subsidizing postal services from China, that does seem unfair at this point," Kelly said, noting that domestic deliveries sometimes cost more than international ones."A lot of these kinds of decisions were structured when we were talking about making sure that letters from family members could get from one country to the other, but we’re now in an environment of cutthroat international commerce where shipping goods through the mail is a pretty big deal for online companies," he said."Gone are the days here you have to go to the local hardware store to buy a missing part. You may be buying it from Amazon or Alibaba.”In an email, the U.S. Postal Service said it aims "to end the distortionary effects associated with excessively low rates for certain foreign origin mail" and supports the goal of the Trump administration to "secure a more balanced and fair remuneration system" for small goods shipments.The federal agency said it will not leave the postal treaty if better terms are set before an "extraordinary congress" meets in late September.Canada Post pointed to the nearly-40-year-old bilateral agreement with its southern counterpart that "covers all product flows north and south of the border" and takes precedence over the multinational postal convention. The agreement means North American shippers and their continental consumers would likely see delivery prices remain stable.Canada Post declined to speak to its position on the U.S. demand for more balanced terminal dues, citing the "sensitive commercial nature" of the upcoming meetings.A 2015 report from the U.S. Postal Service inspector general found that low terminal dues for China cost the agency about $300 million between 2010 and 2014.Kelly stressed there are alternatives to the U.S. mail system for Chinese shippers. “I don’t think that this is Armageddon here," he said. "But uncertainty is always the enemy of the business community, and this just throws another big matzo ball of uncertainty into the mix.”“As is the style in the U.S. at the moment, often there is a whole bunch of threats and bluster right at the beginning, and then there is a pathway for a negotiated resolution. I’m hoping it’s in that category," he said.Nonetheless, an American exit could jeopardize the existence of the Universal Postal Union, he added. "It would be severely tested."Andrea Stairs, who heads eBay Canada and Latin America, told The Canadian Press that the thousands of Canadian "micro-businesses" that ship goods from China to countries around the world often use traditional shippers or private couriers rather than the U.S. Postal Service."Postal channels are more being used for smaller-volume shipments, a lot of business-to-consumer and maybe some business-to-business deliveries," she said, stating the impact of a U.S. treaty pullout would be limited.Shopify did not respond to questions from The Canadian Press. Companies in this story: (TSX:SHOP)Christopher Reynolds, The Canadian Press
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