|Bid||2.0400 x 0|
|Ask||2.0500 x 0|
|Day's Range||1.9800 - 2.1200|
|52 Week Range||1.9800 - 15.5000|
|Beta (3Y Monthly)||4.62|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CannTrust Holding Inc. (TSX:TRST)(NYSE:CTST) is a stock you want to avoid. Read on to know why you should steer clear of the legal weed industry’s black sheep.
Millennials are advised to avoid weed stocks. CannTrust Holdings Inc. (TSX:TRST)(NYSE:CTST), Canopy Growth Corp (TSX:WEED)(NYSE:CGC), and the rest of the cannabis companies are dealing with issues that are affecting the industry as a whole.
If you're holding marijuana stocks like CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) in your RRSP, you could be in for a rude awakening
Weed stocks have taken a beating since April. Cronos Group Inc (TSX:CRON)(NASDAQ:CRON), Aurora Cannabis (TSX:ACB)(NYSE:ACB), and CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST) are amongst those that have fallen.
On Tuesday, Eight Capital removed its target price for CannTrust Holdings due to uncertainty about the risks involved in the company's future operations.
It'll be a long time before this analyst buys SNC-Lavalin Group Inc. (TSX:SNC) or Baytex Energy Corp (TSX:BTE)(NYSE:BTE) for his portfolio.
If you want the potential returns of marijuana stocks without all the volatility, consider gold stocks like Kirkland Lake Gold (TSX:KL)(NYSE:KL)
(Bloomberg) -- Air Canada fell as much as 1.5% on Monday after the stock was unexpectedly left out of a reshuffle of the S&P/TSX 60 Index and Kirkland Lake Gold Inc. added instead.Kirkland Lake rose 2.8% at 9:50 a.m. in Toronto after the announcement late Friday; Husky Energy Inc. was removed in the changes. S&P Dow Jones is still set to announce the changes for the TSX composite on Sept. 13.READ MORE: A Hidden Gem May Join The Big Leagues After Canada Index ShuffleThe index changes -- important in the age of passive investing since they drive the composition of exchange traded funds -- may turn out to be the biggest news in what’s expected to be a relatively quiet week. Expect CannTrust Holdings Inc. to be among those ejected from the composite index after it fell beneath its listing price of C$2.50.Kirkland Lake has soared 80% this year amid gold’s safe-haven rally and is up 675% over three years.Air Canada had climbed more than 300% since 2016 and is the best-performing stock in the Bloomberg World Airlines Index this year. The carrier’s performance has been boosted this year by its planned acquisition of tour operator Transat AT, which will accelerate its global presence in the leisure industry.CannTrust, on the flipside, has fallen almost 85% from its 2018 peak. A demotion from the TSX would mean it has spent a mere six months in the index.To be eligible for index inclusion, a stock must have a float-adjusted market cap of greater than 0.04% of the index itself, according to AltaCorp. It should also have a float turnover of more than 0.5 times over the period of the prior year. For a deletion, the stock will have a float weight of less than 0.025% of the index. The measurement period to determine changes is based on volume-weighted trading over the last 10 trading days of August.The conference schmoozefest will continue with Canadian companies presenting across North America: Barclays Global Financial Services Conference, Rodman & Renshaw 21st Annual Global Investment Conference, RBC Global Industrials Conference and BMO Media & Telecom Conference.Here’s a recap of what happened last week:Markets -- Just The NumbersWhile skepticism remains, markets were buoyed by the easing of U.S.-China trade tensions this week. A spate of good economic data up north supported the Bank of Canada’s reluctance to signal a potential interest rate cut when it held interest rates steady. That culminated with a blockbuster 81,100 jobs created last month, Statistics Canada reported Friday. It was the seventh-largest monthly gain in records going back to 1976, and brought gains to 471,300 over the past 12 months, the most in a year since 2003.Chart of The WeekPoliticsPrime Minister Justin Trudeau is expected to kick off Canada’s election campaign over the next week. The federal election is set to take place on Oct. 21.EconomyEconomists will have one eye on August housing starts, expected on Sept. 10, after the Bank of Canada kept rates unchanged in September, in contrast to the rest of the world’s easing trend. Deputy Governor Lawrence Schembri on Thursday noted the domestic economy’s resilience, highlighting the bank’s determination to chart its own course.TrendingInCanada1\. Tennis superstar (and Canadian!) Bianca Andreescu made history and won the US Open in New York last week. And in true Canadian fashion, she apologized to fans of Serena Williams for her win.(Updates with S&P/TSX 60 shuffle announcements, share price)\--With assistance from Madeleine Lim.To contact the reporters on this story: Divya Balji in Toronto at firstname.lastname@example.org;Aoyon Ashraf in Toronto at email@example.comTo contact the editors responsible for this story: Madeleine Lim at firstname.lastname@example.org, Jacqueline Thorpe, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Removal from the S&P/TSX Composite Index could result in another sell-off of CannTrust Holdings Inc (TSX:TRST)(NYSE:CTST), and there still might be more bad news to come.
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,535.33, down 39.48 points.)Stornoway Diamond Corp. (TSX:SWY). Materials. Up one cent, or 100 per cent, to two cents on 15.9 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Down 81 cents, or 3.33 per cent, to $23.55 on 6.7 million shares.Encana Corp. (TSX:ECA). Energy. Down 12 cents, or 1.97 per cent, to $5.96 on 6.4 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up 27 cents, or 3.48 per cent, to $8.02 on 5.3 million shares.Kinross Gold Corp. (TSX:K). Materials. Down 19 cents, or 2.82 per cent, to $6.54 on 4.6 million shares.B2Gold Corp. (TSX:BTO). Materials. Down 17 cents, or 3.7 per cent, to $4.42 on 4 million shares. Companies in the news:Hudson's Bay Co. (TSX:HBC). Unchanged at $10.08. The last two remaining locations of discount retailer Zellers will shutter its doors early next year, says Hudson's Bay Co. The retailer expects to close the Toronto and Ottawa locations in January. A company spokeswoman declined to specify how many employees work at the stores, saying "we do not break out store employment numbers." In 2011, the company reached a roughly $1.8-billion deal to sell the leases of 189 Zellers stores to Target and close the remainder — save for three locations — by March 2013.CannTrust Holdings Inc. (TSX:TRST). Up one cent to $2.33. CannTrust Holdings Inc. is laying off about 180 people — about 20 per cent of the Ontario-based cannabis company's workforce — following repeated problems with both its product and how it has been produced. The move is expected to result in annual cash savings of about $9-million, as well as the company recording roughly $2-million in severance costs, the pot producer said. Most of the affected employees were in cultivation and customer service support roles. The Canadian Press
Cannabis ETFs the ETFMG Alternative Harvest ETF and the Horizons Marijuana Life Sciences Index ETF were up 2.0% and 1.7%, respectively, at 1:20 PM today.
CannTrust Holdings Inc. used black market seeds brought in by senior operating staff at its Pelham, Ont. facility late last year, tainting the legal market with illicit supply, according to a report from BNN Bloomberg.
News that the US and China plan to revive trade talks in October boosted the US stock market. Most of the cannabis players traded in the green today.
CannTrust Holdings (TSX:TRST) (NYSE:CTST) and Canopy Growth Corp. (TSX:WEED) (NYSE:CGC) are down significantly from their 2019 highs. Is one these stocks so oversold it is finally a buy?
HEXO stock has suffered since it reported lower-than-expected third-quarter results in June. The stock has fallen 31.8% since its earnings on June 12.
Marijuana stocks have been in a downward spiral since March. However, on the even of another significant macro event, pot stocks may be worth another look.
CannTrust (CTST) was hit with selling pressure this morning as its stock declined almost 5%. However, the overall cannabis sector seems to be positive
In the wake of its regulatory scandals, the cannabis sector lagged the equity market in August. YTD, MJ and HMMJ have fallen 3.7% and 1.5%, respectively.
Buying the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) has many advantages over buying single pot stocks.